State Street Global Advisors (SSgA), the asset management business of State Street Corporation (NYSE: STT), today announced the appointment of Nigel Aston to managing director and head of UK defined contribution (DC).
In this newly created position based in London, Mr. Aston will report to Susan Raynes, senior managing director and head of UK, Middle East and Africa and Fredrik Axsater, managing director and global head of defined contribution.
Commenting on the appointment, Raynes said: “SSgA’s commitment to bringing new thinking and comprehensive solutions to the growing needs of DC schemes is precisely why we are delighted to welcome Nigel to the team. Nigel has honed his DC and corporate pension expertise for more than 20 years and is a well recognised leader in the industry. Nigel’s strong client service background combined with his experience in leading sales teams and driving product development aligns well with SSgA’s dedication to building strategic relationships with DC schemes to help them deliver effective, comprehensive solutions for future retirees.”
Axsater added: “Nigel’s appointment is a significant milestone for SSgA as we broaden our DC offering in the UK market. The transformative trend within the global retirement landscape as DC assets outpace DB assets
signals a vital need to understand how self-funded pension schemes can meet the needs of future retirees. Nigel shares SSgA’s commitment to bringing innovative solutions to DC schemes—from investment solutions to plan design and member communications.”
Prior to joining SSgA, Mr Aston was a business development director with data company DCisions, responsible for sales and marketing, long-term commercial relationships, and product and service delivery. He was the key company liaison with industry, government and regulatory bodies. His experience also included head of strategy and propositions at Standard Life where he was responsible for defining and executing the firm’s DC pensions strategy and a number of roles at AXA including investment strategy director and key account director within its corporate benefit solutions division. He began his career at Sun Life as senior sales consultant. Nigel holds a bachelor’s degree in English literature from the University College of Wales, Aberystwyth.