State Street Global Advisors (SSGA) has appointed Marcus Miholich as head of SPDR ETFs for the Nordic region, effective immediately.
Miholich joins the SPDR team in a new role and will report to Rory Tobin, chairman of SSGA and global co-head of SPDR ETFs responsible for EMEA and Asia Pacific.
Miholich joins the SPDR ETF team from Haitong Securities in London where he was Managing Director, Head of Delta One, ETF and Cash Equity Trading. Previous roles in Miholich’s 15+ year career include senior positions in sales and trading at Merrill Lynch, JP Morgan and Morgan Stanley. At State Street he will be responsible for evaluating the investment objectives of our Nordic client base and positioning SPDR ETF products and services to best meet these needs.
“While assets under management in the European ETF market currently represents less than 7 per cent of the mutual fund market, ETFs represent the fastest growing segment, with ETF assets increasing by over 30 per cent year to date,” commented Tobin. “We are seeing increasing demand for ETFs from clients in Denmark, Finland, Norway and Sweden, who are attracted to the cost-effective and transparent nature of ETFs, as well as the ability to access liquidity in real time. Marcus brings a wealth of ETF experience to our Nordic client base and we look forward to working with him to strengthen our presence in this important region.”
Miholich adds: “Alongside traditional core equity and fixed income exposures, investors in the Nordic region are turning to ETFs to deliver strategies that were traditionally the domain of active managers, like factor, thematic or smart beta investments. ETF adoption in the region is also strong in areas like Emerging Market fixed income, where ETFs had a first mover advantage in the market. More tactically, we are also seeing investor demand for indexed products that offer select sector exposures.
“I am delighted to be joining the team at a time of strong growth for SPDR and the ETF industry as a whole.”