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State Street names global head of defined contribution

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State Street Global Advisors has appointed Kristi Mitchem as senior managing director and global head of its defined contribution business.

In this new position Mitchem is responsible for advancing SSgA’s USD252bn global defined contribution business including product development, distribution, pricing, client service, operations and marketing activities.

She will also work closely with SSgA’s offices and investment centres worldwide to build a competitive defined contribution offering that is tailored to meet regional and country-specific requirements.

Mitchem reports to Jamie Kase, executive vice president and head of global sales and marketing at State Street Global Advisors.

“Defined contribution market growth is accelerating at a rapid pace and it’s critical to SSgA’s long term growth,” says Kase. “Plan sponsors and their participants face many challenges today including investment choices and the need for ongoing education to ensure sufficient retirement savings. Kristi is an industry veteran with an outstanding record who has been on the frontlines of building and delivering solutions to better serve the needs of retirement investors. We are pleased to have her on board and look forward to working with her to sharpen our focus on delivering innovative solutions to the DC market.”

Mitchem joins SSgA from BlackRock, where she most recently served as managing director and head of the US defined contribution business. Prior to this role, she was managing director and head of US transition services at Barclays Global Investors where she was responsible for redirecting the transition services business and driving top line revenue growth. Before joining BGI in 2005, Mitchem worked at Goldman Sachs for nine years in a variety of sales and trading roles.

“I am thrilled to join State Street Global Advisors,” says Mitchem. “SSgA’s long-standing heritage of partnering with and advising pension plan sponsors in all aspects of retirement plan management make them uniquely positioned to help retirement investors in an increasingly complex and competitive marketplace.”

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