State Street Global Advisors has announced Jonathan Shead would be appointed to the newly created role of head of retirement solutions.
Shead would be responsible for building a new team that would work with super funds and advisers to create innovative retirement solutions for the Australian market and meet evolving retirement needs.
Shead joined State Street in 2000, where he was part of the global portfolio strategy team, most recently as head of portfolio strategies for the Asia-Pacific region. Prior to this, Shead was a consulting actuary to super funds.
Head of State Street Global Advisors, Asia Pacific, James MacNevin, said as more Australian super fund members transition from accumulating wealth to drawing down their savings, the need for investment strategies tailored for retirement had become acute.
“Our Global Retirement Survey, to be released next month, indicates only one in five working Australians are optimistic about their financial future in retirement,” he said.
“We hope this new Retirement Solutions team will help shift that sentiment and contribute to a greater sense of financial security for Australians.”