The asset management arm of New York-listed State Street Corporation has appointed a new chairman and made two promotions within its exchange-traded funds business.

State Street Global Advisors has appointed Jim Ross as chairman for Global SPDR and SSGA funds management.

Ross is currently head of SSGA’s SPDR exchange-traded funds business and intermediary distribution. As he steps into his new role, Rory Tobin, the firm's head of European distribution, and Nick Good, chief operating officer of the North American intermediary business group, will become co-heads of Global SPDR.

“As ETF markets evolve globally and product innovation continues to rapidly expand throughout the industry, investors now more than ever need to strengthen their understanding of the long-term value of ETFs,” said Ross. 

“SSGA has been a partner with our clients since the early days of index investing, and I look forward to spending more of my time sharing our point of view on how together we will continue to shape better outcomes for investors.”

SPDR funds, managed by SSGA, are a family of ETFs traded in the US, Europe and Asia-Pacific.

State Street Global Advisors had assets under management of $2 trillion as of the end of March 2016.