State Street Global Advisors of Boston has hired Scott B. Richards as a senior high-yield portfolio manager in its global fixed-income group.
Mr. Richards, whose hiring was announced last week, was co-head of high yield at Sun Life Financial Inc.'s MFS Investment Management in Boston.
The investment management arm of State Street Corp. said Mr. Richards will be in charge of managing its high-yield assets and "advancing the firm's global active credit capabilities." He also will work to broaden the unit's asset class coverage by building a leveraged loan capability, developing products, and overseeing the investment of assets in this area.
State Street Global Advisors had $680 billion of global fixed-income assets under management as of Sept. 30.
