State Street pushes into wholesale market

State Street Global Advisers (SSgA) has appointed Amy Johnston to vice president of wholesale sales to assist in SSgA's plans to push further into the wholesale market.

The appointment is part of SSgA's expansion of its institutional client offering to family offices, platforms, private banks, researchers, dealer groups, and independent financial advisers, according to Peter Mitchell, SSgA's head of business development for Australia and New Zealand.

Mitchell said Johnston will play a key role in developing strategies to expand SSgA's institutional services and investment solutions across active, passive, alternative and ETF strategies to the wholesale channel.

Johnston is moving across from Goldman Sachs Asset Management where she was national accounts manager and led a team of account managers, business development associates, serviced dealer groups, platforms, researchers and advisers.

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She has over ten years' experience and has held roles with Perennial Investment Partners and Merrill Lynch Investment Managers.

There was an increasing need for portfolio construction techniques and complimentary underlying investments that preserve a clients' capital, particularly considering the low average Australian account balance, Mitchell said.

"We will be working closely with clients to determine the gaps and rather than simply offer products, we will launch solutions that are highly transparent and easy to understand," he said.