State Street Global Advisors (SSGA) has appointed Marcus Miholich as the head of its ETF brand, SPDR, in the Nordic region.

In the newly created role, Miholich will be tasked with assessing the investment objectives of the firm’s Nordic clients and positioning SPDR ETF products and services. He will report to SSGA chairman and SPDR ETFs regional global co-head, Rory Tobin.

“While assets under management in the European ETF market currently represents less than 7 per cent of the mutual fund market, ETFs represent the fastest growing segment, with ETF assets increasing by over 30 per cent year to date. We are seeing increasing demand for ETFs from clients in Denmark, Finland, Norway and Sweden, who are attracted to the cost-effective and transparent nature of ETFs, as well as the ability to access liquidity in real time,” Tobin stated.

Miholich most recently served as the head of delta one, ETF and cash equity trading at Haitong Securities in London.

He previously also held senior roles at Merrill Lynch, JP Morgan and Morgan Stanley.