UK - State Street Global Advisors (SSgA) has appointed Paul Duncombe as managing director of the UK business. Duncombe's appointment comes a month after Nigel Wightman's resignation as UK MD.
Duncombe was most recently head of global head of currency management, which posted year-on-year AUM gains of 31% from 2003 to 2004. He has also served as deputy managing director for SSgA since 1999. He will report to Mark Lazberger, senior vice president and head of international businesses and to Jean-François Schock, regional managing director for SSgA Europe on distribution issues.
Duncombe joined SSgA in 1995 from Pan Agora Asset Management, where he headed global fixed income and currency.
“Paul’s invaluable expertise gained through his role as our long-standing deputy managing director in the UK make him the ideal candidate for the position,” said Lazberger. “In 2004, SSgA experienced a record level of 70 percent growth in assets under management in Europe, and I’m confident in the ability of Paul and our strong senior management team in London to continue this momentum.”
Tony Spence will assume Duncombe’s responsibilities as global product head for currency management. Spence came to SSgA in 2003.
Wightman resigned in late March, just days after group CIO Alan Brown left the firm. Shock assumed Wightman’s role on an interim basis.
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