Rushe (age 34) will lead State Street’s ETP servicing team and will be responsible for the overall ETP product offering for new and existing clients covering exchange traded funds (ETFs), exchange traded notes and exchange traded certificates. He joins State Street from Bank of Ireland Securities Services, where he was a key member of the team responsible for the creation of Ireland’s first ETF product in 2000.
'I am very excited to have the opportunity to join the State Street team. As one of Europe’s largest ETP service providers, State Street is in a unique position to deliver innovative, efficient and robust solutions to our clients globally', said Rushe.
Rushe was responsible for the development of Bank of Ireland Securities Services ETF model over the past 10 years. His experience also includes fixed income investments, Shariah funds, emerging markets funds, synthetic products and multicurrency dealing.
Commenting on the appointment, Susan Dargan, chief operations officer for State Street Global Services in Ireland said; 'Product innovation is a key ingredient in promoting Ireland’s appeal as a major financial services centre to an increasingly sophisticated international client base. Robert has played a critical role in enhancing the servicing of ETPs and this appointment further strengthens State Street’s credentials in this area'.
About State Street in Ireland
Since its entry into the Irish market in 1996, State Street has become one of the country’s largest fund administrators and custodians. The company employs approximately 2,000 employees in Ireland with offices in Dublin, Drogheda, Kilkenny and Naas (including a new Irish HQ on Sir John Rogerson’s Quay which was officially opened in March 2010). Earlier this year, SSgA, the investment management business of State Street Corporation, announced its acquisition of Bank of Ireland Asset Management (BIAM) for a consideration of approximately €57 million.
About State Street Corporation
State Street Corporation (NYSE:STT) is one of the world’s leading providers of financial services to institutional investors, including investment management, investment research and trading and investment servicing. With $21.5 billion in assets under custody and administration and $2.0 trillion in assets1 under management at December 31, 2010, State Street operates in 26 countries and more than 100 geographic markets worldwide.
For more information, visit State Street’s web site at www.statestreet.com.