SOURCE: Barclays Global Investors

May 13, 2008 09:05 ET

Chip Stevens Joins Barclays Global Investors as Head of Active, U.S. Fixed Income Trading

SAN FRANCISCO, CA--(Marketwire - May 13, 2008) - Barclays Global Investors (BGI) today announces that Chip Stevens has joined the firm as Managing Director and Head of Active Trading for U.S. Fixed Income. In this newly created position, Mr. Stevens, who has extensive experience in the credit and derivatives markets, will be responsible for overseeing Fixed Income Trading in the U.S. and managing and developing the firm's U.S. broker/dealer trading relationships.

"Chip has an impressive record of building and managing profitable trading teams globally," said Marie Chandoha, Head of the Global Fixed Income business to whom Mr. Stevens reports. "His experience will be invaluable to BGI as we centralize our trading function in the U.S. and enhance efficiencies and synergies across our global business."

BGI's Fixed Income business has increased significantly over the last several years as it has continued to grow its index and ETF business while expanding its product set to a broader range of active fixed income offerings. As of the end of the first quarter 2008, BGI managed $406 billion in Fixed Income, up from $150 billion five years ago.

Most recently, Mr. Stevens was Co-Head of High Yield Trading at Deutsche Bank where he focused on integrating the cash and credit derivatives (CDS) trading businesses. Earlier in his career, he managed Merrill Lynch's High Grade CDS trading desk in London and launched credit derivatives trading at Citibank. He began his career in compliance at Salomon Brothers. Mr. Stevens holds a BA in Economics from Cornell and an MBA from Duke University.

About Barclays Global Investors

Barclays Global Investors is one of the world's largest asset managers and a leading global provider of investment management products and services with more than 2,900 institutional clients and in excess of $2.0 trillion of assets under management as of December 31, 2007. BGI transformed the investment industry by creating the first index strategy in 1971 and the first quantitative active strategy in 1979. BGI is the global product leader in exchange traded funds (iShares® exchange traded funds) with over 320 funds for institutions and individuals globally.

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