Headquartered in London, the SSgA hedge fund strategies group will be led by Chris Woods, who moved over from his role as UK chief investment officer in June to head the company’s hedge fund operations. Erich Stock and Scott Gregory will be responsible for marketing and sales in Europe and Middle Eastern markets, and US and Asian markets respectively. The group reports to Alan Brown, group chief investment officer of SSgA.
“As investors recognise the benefits of diversification in a challenging investment environment, the demand for hedge fund products will continue to increase,” said Brown. He estimates the market is currently valued at around $700 billion and is expected to grow threefold by the year 2010.