State Street appoints new institutional head
State Street Global Advisors (SSgA) has appointed a new global head of its official institutions group following John Nugée's decision to retire at the end of October.
Nugée will remain in an advisory capacity as a strategic consultant for the institutions group and will continue to provide research and participate in select client events.
Louis de Montpellier will take over the global head role in September, having most recently held the position of deputy head of the banking department of the Bank of International Settlements in Switzerland.
The department is responsible for providing banking and asset management services to more than 150 central banks and international organisations.
De Montpellier has also held positions at Morgan Stanley and Credit Suisse and has more than 25 years experience spanning public debt management, public asset management and public sector finance.
"John founded our official institution group at SSgA and we are very grateful to him and his 13 years of dedication and commitment," SSgA head of Europe Middle East and Africa Michael Karpik said.
"John and Louis will work closely together over the next few months to transition responsibilities."
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