State Street Global Advisors Strengthens Global Active Quantitative Equities Team, Promotes Olivia Engel to Deputy Chief Investment Officer

BOSTON--(BUSINESS WIRE)--

State Street Global Advisors, the asset management business of State Street Corporation STT, has announced that Olivia Engel has been appointed to the newly-created role of deputy chief investment officer for its Global Active Quantitative Equities (AQE) team. Engel, who currently serves as SSGA's head of Active Quantitative Equity in the Asia Pacific region, will relocate from Australia to Boston in March to take up her new role where she will work alongside veteran Ted Gekas, chief investment officer of the Active Quantitative Equities team at SSGA, before his planned departure at the end of the calendar year.

Engel's role will combine her current responsibilities, including global oversight of all benchmark-unaware strategies (portfolios that are not constructed relative to benchmarks), with expanded responsibilities for oversight of the broader AQE research agenda, portfolio management and product innovation. Engel has directed all of State Street Global Advisors' global benchmark-unaware strategies since 2013 and has generated impressive return and risk outcomes, raising more than $2 billion in assets as of December 31, 2016.¹

"In today's market environment, heavily influenced by macro events and political uncertainty, investors are seeking innovative strategies that can exploit the breadth of the investment universe," said Rick Lacaille, chief investment officer at State Street Global Advisors. "I am confident that in Olivia's expanded role she will build upon the great success she has had at SSGA. Her strong leadership skills and extensive knowledge of the active quantitative equity space and the challenges facing our clients today make her a natural fit to step into this role."

Prior to joining State Street Global Advisors in Australia six years ago, Engel held senior-level investment management positions at GMO, Colonial First State Global Asset Management and Commonwealth Investment Management.

"I'm thrilled to lead this team globally for SSGA," said Engel. "Growing inflows to our benchmark-unaware strategies demonstrate that investors are exploring alternative ways of constructing portfolios to achieve efficiency with their fee budget and low redundancy across their equity investments. We have created solutions for clients right across the active risk spectrum to enable them to build portfolios that match their overall investment objectives, whether it be an absolute, or benchmark relative goal."

About State Street Global Advisors

For nearly four decades, State Street Global Advisors has been committed to helping financial professionals and those who rely on them achieve their investment objectives. We partner with institutions and financial professionals to help them reach their goals through a rigorous, research-driven process spanning both active and index disciplines. We take pride in working closely with our clients to develop precise investment strategies, including our pioneering family of SPDR ETFs. With trillions* in assets under management, our scale and global footprint provide access to markets and asset classes, and allow us to deliver expert insights and investment solutions.

State Street Global Advisors is the investment management arm of State Street Corporation.

*Assets under management were $2.47 trillion as of December 31, 2016. AUM reflects approx. $30.62 billion (as of December 31, 2016) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated.

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State Street Corporation, One Lincoln Street, Boston, MA 02111-2900.

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CORP-2462

Expiration date - 02/28/2018

¹ SSGA, as of 12/31/16

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