State Street Global Advisors (SSGA) has promoted a former Barclays boss, Rory Tobin, to global head of its SPDR exchange-traded fund (ETF) business.
Tobin (pictured) was co-head of the business alongside Nick Good, but has been given overall control as Good moves to a new role as State Street’s chief growth and strategy officer.
Tobin rocked Barclays Wealth & Investment in 2014 when he left his role as CEO of Barclays Asset Management and global head of investments and solutions to move to State Street.
He was the third high-profile departure from Barclays Wealth that year after head of UK wealth management Henry Fischel-Bock and chief executive Peter Horrell also quit the firm.
At SSGA, under Tobin and Good’s leadership the firm launched five new ETF strategies.
Good joined SSGA in 2014 from BlackRock where he was CEO of iShares in Asia-Pacific responsible for growing the iShares ETF business across the region.
In his new role, Good is responsible for working with State Street’s management committee and board of directors to help grow the business, and will report to Eric Aboaf, State Street’s chief financial officer.
Commenting on the promotions, SSGA president and CEO, Cyrus Taraporevala, said: ‘Rory is an accomplished leader with vast experience and industry know-how.
‘As global co-head of our ETF business, Rory has done a superb job growing our European franchise and enhancing our client experience.
‘I'm confident that he will continue to take our ETF business to new heights, building on our current momentum. I want to thank Nick for his partnership and leadership over the past two years and wish him every success in his new role.’