State Street Global Advisors (SSgA) has extended their wealth management service with the creation of The Professional's Group. The group will focus on high net worth individuals in the professional sports industry, including athletes, entrepreneurs and agents.
State Street Corporation vice chairman Nicholas Lopardo said: “By forming this group we can leverage SSgA’s position as the world’s sixth largest investment manager to provide high calibre service to this important market.”SSgA has hired Derek Sanderson – an investment advisor of professional athletes for the past 11 years – as a director of the group as well as make several hires from State Street Research.
Managing director of The Professional’s Group and principal of SSgA Seth Ward said: “Derek and his team provide a critical running start for SSgA to become the dominant player in this fast-growing arena of wealth management for the professional sports industry.”
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