SYDNEY, 29 September 2021: State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced four appointments for its SPDR ETFs business in Asia Pacific. Kathleen Gallagher has been appointed as head of SPDR ETFs Australia, in addition to her current role as head of ETF Model Portfolios Asia Pacific and EMEA, Marie Tsang has joined as a SPDR fixed income strategist for Asia Pacific, Jean Gan has joined as a SPDR fixed income sales specialist for Singapore, Hong Kong and Australia, and Robin Tsui has expanded his role to Asia Pacific gold strategist and gold sales specialist for Hong Kong.
Gallagher began her expanded role earlier this month in Sydney, while the roles of Tsang, Gan and Tsui are effective today and are based in Sydney, Singapore and Hong Kong respectively. All four report to Meaghan Victor, head of SPDR ETFs Asia Pacific Distribution at State Street Global Advisors, who is based in Sydney.
"Our SPDR ETFs business in Asia Pacific is one of State Street Global Advisors' priorities and we are delighted to continue to invest in more top talent and resources and demonstrate our commitment to the region,” said Victor. “Kathleen and Robin's expanded roles, alongside the two newly created roles of SPDR fixed income strategist and SPDR fixed income sales specialist, reflect our commitment to meeting the increasing demand from our clients and strengthening our capabilities in the fixed income market in the region."
Relocating from the UK to Sydney, Gallagher was most recently the head of ETF Model Portfolios EMEA and Asia Pacific at SPDR ETFs of State Street Global Advisors. In her expanded role, Gallagher will lead, manage and develop the SPDR ETFs business in Australia as well as the ETF Model Portfolio business in Asia Pacific and EMEA across all channels, including asset owners, asset managers and financial intermediaries.
"The Australian ETF market has grown five-fold in the last five years to hit AUD 122.78 billion1, with even conservative estimates putting it on track to double again by 20242, added Gallagher. “We are committed to strengthening our relationships with clients and continuing to grow our SPDR ETFs business in Australia, and indeed the entire Asia Pacific, and leveraging our local knowhow and global capabilities to provide investors with a comprehensive suite of investment solutions that meet their evolving needs."
The two fixed income appointments are both newly created roles. Tsang joins State Street Global Advisors from BlackRock, where she was most recently the senior investment strategist for BlackRock Portfolio Analysis and Solutions. In her new role, Tsang will be responsible for State Street Global Advisors' fixed income ETFs advising Asia Pacific clients how to best position and employ them in investor portfolios, promoting the strategic growth of SPDR's fixed income products by working together with the SPDR distribution team.
Gan joins State Street Global Advisors from MUFG Securities, where she was most recently the director for institutional investor sales. Prior to that, Gan held various fixed income, derivatives and structured products sales roles at JPMorgan, Societe Generale, Citibank and UBS. Taking on the new role, Gan will be responsible for developing strategies to drive sales of the global fixed income SPDR ETFs, focusing on institutional asset owners and managers in Singapore, Hong Kong and Australia.
"The addition of these fixed income roles will champion the strategic growth of SPDR's fixed income products and strategies in the region,” said Victor. “With declining US Treasury yields, the yield pickup of Asian bonds has become very attractive to investors. With their extensive experience and knowledge in the industry, Kathleen, Marie, Jean and Robin are uniquely positioned to build on the continued success of the SPDR ETFs business in the region, and to achieve SPDR fixed income net new assets and revenue growth in Asia Pacific in particular."
Before taking the expanded role, Tsui was Asia Pacific gold strategist. Prior to joining State Street Global Advisors in 2016, Tsui was investment product and research manager at the World Gold Council. In his new role, Tsui will lead the sales strategies for SPDR Gold ETFs in Hong Kong, in addition to his gold strategist role which focuses on gold investment strategy and research.
Over the past 40 years, State Street Global Advisors has built a universe of active and index strategies across asset classes to help our clients, and those who rely on them, achieve their investment goals through a rigorous, research-driven investment process spanning both indexing and active disciplines. State Street Global Advisors is the creator of the world’s first ETFs3 and an indexing pioneer. In Asia Pacific, State Street Global Advisors manages ETFs listed in Australia, Hong Kong, Singapore and Japan.
About State Street Global Advisors
For four decades, State Street Global Advisors has served the world’s governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world’s fourth-largest asset manager* with US $3.90 trillion^ under our care.
*Pensions & Investments Research Center, as of 12/31/20.^This figure is presented as of June 30, 2021 and includes approximately $63.59 billion of assets with respect to SPDR product s for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
1 ASX Investment Products monthly update, August 2021.
2 Source: ASX, State Street Global Advisors as of 30 June 2021. The forecast growth is an estimate based on a CAGR of Australian ETP growth maintaining 25%p.a. over the period forecast. This information is included for illustrative purposes only. There is no guarantee that the estimates will be achieved.
3 ETFs managed by State Street Global Advisors have the oldest inception dates within the US, Hong Kong, Australia, and Singapore. State Street Global Advisors launched the first ETF in the US on January 22, 1993; launched the first ETF in Hong Kong on November 11, 1999; launched the first ETF in Australia on August 24, 2001; and launched the first ETF in Singapore on April 11, 2002
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