SOURCE: Barclays Global Investors

October 24, 2006 13:11 ET

Barclays Global Investors Appoints Kristi Mitchem Head of US Defined Contribution Business

SAN FRANCISCO, CA -- (MARKET WIRE) -- October 24, 2006 -- Barclays Global Investors (BGI), America's largest money manager(1) and fourth largest Defined Contribution manager(2), announced today that Kristi Mitchem has been appointed Head of the US Defined Contribution business.

In this role, Ms. Mitchem will lead the development of BGI's Defined Contribution strategy as well as coordinate the sales effort serving the firm's institutional clients in the US, Canada and Latin America, and intermediary clients, including financial advisors, banks, broker-dealers, and mutual funds.

"BGI has a 30-plus year history in developing industry-leading, quantitative solutions for the largest institutional retirement plans," said Matt Scanlan, Head of BGI's Americas Institutional Business. "The appointment of Kristi to head the Defined Contribution team will provide focused leadership as BGI expands our set of innovative, cost-effective client solutions for the Defined Contribution market."

"I am very pleased to work with the entire team and be part of the future growth of BGI's Defined Contribution business," said Ms. Mitchem. "BGI has been an innovator in this space, launching the first-ever lifecycle strategies in 1993. The Defined Contribution marketplace is the future of America's retirement savings and I am excited to grow our institutional-quality offerings for America's workforce."

Ms. Mitchem further stated that, "BGI's lifecycle strategies have seen triple digit growth in assets under management and are an example of the success institutional products can have in the retail market place. By offering investment products that focus on risk, return and costs, BGI can offer institutional-quality investment management services to participants across America."

Blake Grossman, Chief Executive Officer of BGI, said, "Kristi brings a wealth of experience in managing strategic business initiatives, and her passion and enthusiasm for this marketplace will quickly impact our Defined Contribution franchise."

Ms. Mitchem joined BGI in 2005 from Goldman Sachs, where she was Managing Director, Equity Products Group, Americas, responsible for the firm's North American Transition Services Group as well as its West Coast derivatives business. Ms. Mitchem, who was a Fulbright Scholar, earned an MBA from the Stanford Graduate School of Business.

Barclays Global Investors (BGI) is one of the world's largest asset managers(3) providing structured investment strategies such as risk-controlled active strategies and indexing. In the US, BGI is one of the largest active managers(4), set apart by its risk-controlled approach. BGI manages 65% of the world's 100 largest pension plans(5) and is the leader in assets and products in exchange traded funds (ETFs) through its iShares® brand with more than 180 ETFs globally. The firm managed over $1.6 trillion in assets as of 6/30/06, for more than 2,800 clients in 52 countries around the world. BGI is majority-owned by Barclays PLC.

(1) Source: "Americas Largest Investors," Institutional Investor,
    July 2006.
(2) Source: "2005 Assets Under Management Survey," Defined Contributions
    and Savings Plan Alert, October 2006.
(3) Source: "P&I/Watson Wyatt World 500," Pensions & Investments,
    September 4, 2006.
(4) Source: "Special Reports: Money Manager Directory," Pensions &
    Investments, May 29, 2006.
(5) Source: "P&I/Watson Wyatt World 300: Largest Pension Funds," Pensions
    & Investments, September 18, 2006.