EUROPE - Standard & Poor's Index Services says it has hired FTSE Group’s head of relationship management in Europe, John Davies, to the role of director of market development for Europe.

He will join later this year and report to Christopher O'Brien, vice president of marketing and sales for Europe and Asia. FTSE said he would be replaced.

“At Standard & Poor's, he will play a key role in marketing and promoting the adoption of S&P indices - including the S&P/Citigroup Global Equity Indices - to professional money managers, institutional investors, their investment consultants and existing investment clients throughout Europe,” S&P said in a statement.

It said at Davies’ role at FTSE was to increase the use of FTSE global benchmarks within European government and corporate pension funds and strengthening relationships with investment consultants.

"This senior appointment underlines our commitment to the continued expansion of our index business across the Continent,” said Eudald Canadell, managing director of Standard & Poor's Index Service in Europe.

“S&P's investable indices are already extremely well received by asset managers throughout the region. We will now be working ever more closely with the institutional market to identify and consolidate new opportunities for benchmarking and the linking of investment vehicles and derivative products to S&P global indices."

S&P said Davies joined its rival in 2002 – before that he was with Schroder Investment Management.

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