Products May 2, 2008

GlobalBridge Adds 130/30 Fund to Alternative Investment Lineup

GlobalBridge Inc., provider of separately managed account solutions for trust banks and wealth advisers, and investment firm Smith Group Asset Management announced the availability of the Smith Group’s 130/30 Strategy to GlobalBridge’s lineup of alternative investment solutions.
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Kent Smith, Smith Group partner and director of marketing, said: “The Smith Group 130/30 portfolio uses the same investment process used on our flagship Large Cap Core/Growth strategy, which has a long track record. Our bottom-up research is used to determine attractive and unattractive stocks. Approximately 82% of a 130/30’s returns will come from the long-only book. The net exposure to the market is very similar to a long-only portfolio. Results of our portfolio show the 130/30 delivers enhanced returns above the long-only Large Cap Core/ Growth, with a similar risk profile.”

In the announcement, the firms noted that data from Financial Times indicated more than half of U.S. public pension plans and a quarter of corporate pension plans are expected to increase their investments in 130/30 strategies over the next three years. About 17% of foundations and endowments said they would do the same.

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More information can be found at www.globalbridge.com and www.smithasset.com.

Deals & People May 2, 2008

State Street Names Hooley President and COO

State Street Corporation announced that its board of directors has appointed Jay Hooley as president and chief operating officer.
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Hooley is responsible for State Street’s asset servicing activities worldwide including investment servicing, investment research and trading, and securities finance. He will continue to report to Ronald E. Logue, chairman and CEO of State Street.

Since joining State Street in 1986, Hooley has held a number of leadership positions with the company, the announcement said. After leading the company’s US Mutual Fund sales organization, Hooley joined State Street’s shareholder servicing joint venture with Kansas City-based DST systems. From 1988 to 1990, he served as president and chief executive officer of National Financial Data Services and went on to become president and chief executive officer of Boston Financial Data Services from 1990 to 2000.

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Hooley returned to State Street in 2000 to manage its global investment servicing business and assumed his current responsibilities in 2004. Hooley, a member of State Street’s Operating Group, the company’s most senior strategy and policy-making team, was named vice chairman of State Street in 2006.

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