State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT), today announced that Rory Tobin has been appointed global head of its SPDR ETF business. Nick Good, previously co-head of the SPDR ETF business, has been named to a new role as State Street’s Chief Growth & Strategy Officer.
As co-heads, Tobin and Good have driven significant progress in State Street Global Advisors’ ETF business over the past two years, delivering global growth and expansion as well as implementing significant improvements to the ETF operating model and infrastructure.
Under their leadership, a number of innovations have been achieved recently to meet clients’ ever-changing needs including the launch of Ultra-Low-Cost SPDR® Portfolio ETFs, the SPDR Bloomberg Barclays Global Bond UCITS ETF in Europe, and three innovative SPDR ETFs which track Kensho New Economies indices.
“Rory and Nick have led our SPDR business with distinction over the past two years to position us for continued success on a global scale,” said Cyrus Taraporevala, president and chief executive officer of State Street Global Advisors. “Rory is an accomplished leader with vast experience and industry know-how. As global co-head of our ETF business, Rory has done a superb job growing our European franchise and enhancing our client experience. I’m confident that he will continue to take our ETF business to new heights, building on our current momentum. I want to thank Nick for his partnership and leadership over the past two years and wish him every success in his new role.”
Tobin joined State Street Global Advisors in 2014 from Barclays Wealth & Investment Management where he served as CEO of Barclays Asset Management and was global head of investments and solutions. Before that he held positions at BlackRock/Barclays Global Investors, where he was most recently co-CEO of Global iShares. In that role he was responsible for leading and executing the growth strategy for the iShares business in Europe, Asia and Latin America. Tobin will continue to report to Taraporevala.
Jim Ross, chairman of global SPDR and State Street Global Advisors Funds Management continues in his role.
In his new role, Good is responsible for working with State Street’s Management Committee and Board of Directors to develop long-term business growth, strengthen the company’s business partnerships and drive continued innovation and solutions for clients. He will report to Eric Aboaf, chief financial officer of State Street.
Eric Aboaf said, “Nick’s appointment is a reflection of the strong pipeline of talent we have across State Street. His successful track record of co-leading Global SPDR and as CEO of iShares Asia-Pacific along with his past business development, M&A, and strategy experience make him well-suited for this critically important position. Nick will play an important role developing, implementing and executing our business priorities and strategy to deliver continued success for the firm, our shareholders and our clients.”
Good joined State Street Global Advisors in 2014 from BlackRock where he served primarily as CEO of iShares in Asia-Pacific responsible for leading the iShares ETF business and driving its growth across the region. Prior to joining iShares, Good was a lead client manager at Boston Consulting Group.
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