State Street Global Advisors appoints senior high-yield bond manager

By Angela McDaniels

Seattle, Nov. 16 - State Street Global Advisors said it appointed Scott B. Richards as senior high-yield portfolio manager in its global fixed-income group.

Richards is responsible for overseeing the management of State Street's high-yield assets and "advancing the firm's global active credit capabilities," according to a company news release. He will also work to broaden State Street's asset class coverage by building a leveraged loan capability, developing new products and overseeing the investment of assets in this area, including collateralized loan obligations.

He reports to Michael O'Hara, managing director of active fixed income, and began his career at State Street as an account controller in the investment management group.

Richards has more than 26 years of investment experience, including 20 years of managing high-yield bond portfolios. He was previously co-head of high yield at MFS Investment Management, head of the high-yield group at Liberty Funds Group, a high-yield portfolio manager at State Street Research & Management (now BlackRock) and, before that, he led Wellington Management Co.'s high-yield research group.

He holds a Bachelors of Science degree in applied economics from Cornell University and a Masters of Business Administration from the Amos Tuck School at Dartmouth College. Richards is also a member of the Boston Security Analyst Society.

Boston-based State Street Global Advisors is the investment management arm of State Street Corp.

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