State Street Global Advisors (SSGA) has appointed Matteo Andreetto as its head of Europe, Middle East and Africa (EMEA for the SPDR business.
Andreetto joins from STIXX where he was chief executive and head of index services. He will report to Reporting to Rory Tobin, global head of SSGA's SPDR ETF business and will be responsible for developing, leading and executing all aspects of SPDR's ETF business strategy in EMEA.
Andreetto, who will be based in London, will also lead the ETF sales teams, working across product development, marketing, capital markets and infrastructure.
Prior to working at STOXX, which is part of Deutsche Borse Group, Andreetto held senior positions in capital markets distribution leadership at firms including Unicredit, Bank of America Merrill Lynch and Goldman Sachs.
Andreetto joins as Tobin State Street increases its interest in Europe as the company looks to take advantage of investor interest in areas such as fixed income, equities and smart beta strategies.
"We believe the European ETF market is in the early stages of developing its growth potential, with various secular trends providing a supportive backdrop for continued growth," said Tobin.
"These trends include greater focus on value for money in investing, increased requirements for transparency and liquidity in investment products, increased use of fixed income ETFs in portfolio management and a migration to fee based advisory models in wealth management."
Andreetto added that ETFs have "shifted the way investors think about how they invest." "ETFs have become key building blocks when making asset allocation decisions and have enabled advisors to focus on investors outcomes with greater efficiency," he added.
Last month, State Street has appointed Stefan Huhn as its new managing director and head of ETFs for the SPDR business in Germany.