State Street Investment Management today announced the appointment of Henry MacLeod as Managing Director, Head of Direct Retail and Digital Wealth International. MacLeod will report to Matteo Andreetto, Global Head of NextGen Business Development and Digital Wealth.
MacLeod joins State Street Investment Management from BlackRock , where he was Co-Head of Digital Distribution for EMEA and helped build one of the industry’s leading digital wealth franchises. In that role, he led strategic partnerships with major European digital investment platforms and played a central role in efforts to expand retail investing through digital ecosystems.
In his new role, MacLeod will lead State Street Investment Management’s international Direct Retail and Digital Wealth business, working with regional teams to accelerate platform partnerships, expand the firm’s ecosystem approach and strengthen the connection between digital wealth, ETF as a Service and the broader NextGen strategy.
His appointment comes as digital wealth enters a new phase of development. While the first phase of said development was defined by scale and distribution, the Next phase is increasingly focused on ownership of the value chain. Platforms are now looking to build recurring revenue streams, capture product economics and create differentiated investment propositions for their clients.
State Street Investment Management’s NextGen strategy is designed to support that shift. The firms’ strategy focusses on supporting clients across the value chain, bringing to bear the organisation’s full Spectrum of capabilities including ETF manufacturing, capital markets and execution expertise, custody and servicing, FX capability and ETF as a Service.
This enables wealth platforms and digital investment businesses to move beyond product distribution and develop more integrated, scalable investment propositions.
Commenting on the appointment, Matteo Andreetto, Global Head of NextGen Business Development and Digital Wealth at State Street Investment Management, said: “The industry is changing, and changing rapidly. Platforms no longer want access only to products; they want the ability to build investment propositions – and therefore to create deeper relationships with their clients. Against this backdrop, Henry has joined the Team at the perfect time. His experience in building partnerships with some of Europe’s most important digital investment platforms will be invaluable as we accelerate our international Direct Retail and Digital Wealth strategy and continue to position State Street Investment Management as a partner for the Next generation of wealth platforms.”
