State Street Global Advisors Appoints Head of UK Defined Contribution
Expands DC Presence in UK as DC Assets Surpass DB Assets Globally
LONDON & BOSTON -- November 08, 2012
State Street Global Advisors (SSgA), the asset management business of State
Street Corporation (NYSE: STT), today announced the appointment of Nigel Aston
to managing director and head of UK defined contribution (DC).
In this newly created position based in London, Mr. Aston will report to Susan
Raynes, senior managing director and head of UK, Middle East and Africa and
Fredrik Axsater, managing director and global head of defined contribution.
Commenting on the appointment, Raynes said: “SSgA’s commitment to bringing new
thinking and comprehensive solutions to the growing needs of DC schemes is
precisely why we are delighted to welcome Nigel to the team. Nigel has honed
his DC and corporate pension expertise for more than 20 years and is a well
recognised leader in the industry. Nigel’s strong client service background
combined with his experience in leading sales teams and driving product
development aligns well with SSgA’s dedication to building strategic
relationships with DC schemes to help them deliver effective, comprehensive
solutions for future retirees.”
Axsater added: “Nigel’s appointment is a significant milestone for SSgA as we
broaden our DC offering in the UK market. The transformative trend within the
global retirement landscape as DC assets outpace DB assets^1 signals a vital
need to understand how self-funded pension schemes can meet the needs of
future retirees. Nigel shares SSgA’s commitment to bringing innovative
solutions to DC schemes—from investment solutions to plan design and member
Prior to joining SSgA, Mr Aston was a business development director with data
company DCisions, responsible for sales and marketing, long-term commercial
relationships, and product and service delivery. He was the key company
liaison with industry, government and regulatory bodies. His experience also
included head of strategy and propositions at Standard Life where he was
responsible for defining and executing the firm’s DC pensions strategy and a
number of roles at AXA including investment strategy director and key account
director within its corporate benefit solutions division. He began his career
at Sun Life as senior sales consultant. Nigel holds a bachelor’s degree in
English literature from the University College of Wales, Aberystwyth.
SSgA manages DC assets of more than US$235 billion globally.
About State Street Global Advisors
State Street Global Advisors (SSgA) is a global leader in asset management.
The firm is relied on by sophisticated investors worldwide for its disciplined
investment process, powerful global investment platform and access to every
major asset class, capitalization range and style. SSgA is the asset
management business of State Street Corporation, one of the world’s leading
providers of financial services to institutional investors.
1 Source: McKinsey Retirement Practice, estimated figures.
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Noreen Shah, +44 (0)20 3395 7073
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