State Street Global Advisors (SSgA), the investment management business of State Street Corporation (NYSE:STT), has appointed Ben Clissold (pictured) as senior liability-driven investment (LDI) portfolio manager within the Investment Solutions Group. Clissold will be based in London and will report to Raymond Haines, head of European Liability-Driven Investment.
Clissold joins from P-Solve Asset Solutions, where he was deputy CIO and he spent over four years designing, executing and managing liability driven investment solutions for 70 clients. Prior to this he worked at ING Bank and CIBC World Markets trading derivatives.
Haines says: “Ben joins our Investment Solutions business and brings a wealth of experience in developing and implementing derivative-based LDI strategies. His role is to help build our LDI capability and proposition. We are committed to growing our team here in Europe, which will in turn further enhance the solutions we are able to bring to clients.”
SSgA provides investment solutions specific to clients needs such as LDI, tactical and strategic asset allocation and alternative asset-class investing. SSgA has managed tailored LDI solutions for a broad range of clients since early 2005 and presently it holds USD201bn in assets under management (31/12/2010) across its multi-asset allocation strategies.
Haines adds: “Liability-driven investing solutions are increasingly being used to meet the challenges trustees and plan sponsors face. The ongoing economic uncertainty continues to raise concerns among pension scheme sponsors and trustees, especially with regard to pension scheme liabilities.”
In addition, Mathias Marta will also join the LDI team in London. Mathias is currently a senior investment manager within SSgA’s Fixed Income Beta Solutions team. In his new role he will be responsible for managing a range of LDI solutions.
