State Street Global Advisors has hired a head of business development for its exchange traded funds division in Asia ex Japan.

The US-based investment management business of State Street Corporation, has hired Ray Chan to oversee the growth of its SPDR ETFs business in the region. 

Based in Hong Kong, Chan will drive the sales strategy and promote and broaden the awareness of SPDR ETF products. He will report to Frank Henze, head of exchange traded funds, Asia-Pacific.

Prior to joining SSgA, he was the head of retail business, Greater China, for BEA Union Investment. He also previously held positions with Schroder Investment Management and Capital Group. 

State Street Global Advisors has a strong track record in the space, having introduced the world’s first ETF in 1993. In 1999, it launched Hong Kong’s first ETF, the tracker fund of Hong Kong, which is currently the largest ETF in Asia ex-Japan. It also introduced Australia’s first ETF and Singapore’s first locally-listed ETF in 2001 and 2002 respectively.

SSgA is the largest ETF provider in the Asia-Pacific region with an AuM of $12.7 billion, as of 31 March 2012.