(August 23, 2012)–Maureen Fitzgerald, State Street Global Advisors’ (SSgA) co-head of the Institutional Client Group for North America, has left the firm for rival asset manager Pyramis.
Kristi Mitchen, who has been sharing the role with Fitzgerald, will now take sole responsibility for the group.
“Since joining SSgA in 2010, Kristi Mitchem has made a significant impact on SSgA,” State Street told aiCIO. “Under Kristi’s leadership, SSgA has made substantial inroads in the global defined contribution business, increasing assets under management to more than $200 billion. At the beginning of this year, Kristi took on additional responsibilities managing our sub-advisory business and other aspects of our institutional business.”
“Kristi Mitchem will assume the role of head of the Institutional Client Group for North America,” the firm continued. “Maureen Fitzgerald, who previously led this group together with Kristi, is leaving to pursue other opportunities.”
SSgA is the asset management business of Boston-based State Street. Rhode Island-based Pyramis is the institutional asset management arm of Fidelity, the $1.5 trillion financial services complex.
Fitzgerald will now take the newly-created role of head of North American institutional distribution, according to Pyramis. She will be “responsible for US and Canadian sales and global consulting relations,” the firm said.