Wells Fargo Asset Management (WFAM) announced that Fredrik Axsater, CFA, has been appointed executive vice president and head of Strategic Business Segments.

In this newly created role, Axsater will build a team focused on establishing a deeper understanding of client needs and growing three strategic business segments: Defined Contribution (DC); Environmental, Social, and Corporate Governance (ESG); and partnerships with the businesses that comprise Wells Fargo’s Wealth and Investment Management division.

Based in San Francisco, he is expected join the organization in this new role in the second quarter of this year and will report to Kristi Mitchem, chief executive officer and head of WFAM. Axsater most recently served as global head of Defined Contribution and ESG Businesses for State Street Global Advisors (SSGA).

“Our focus on these key market segments will be integral towards our goal of creating an organization that can serve our clients now and into the future,” said Mitchem. “Fredrik brings an exceptional understanding of the landscape of both the Defined Contribution and ESG market segments. His expertise, combined with our shared commitment to solving problems for clients, makes him an ideal candidate to lead this strategic expansion.”

Axsater had been with SSGA since 2011, when he began as its global head of Defined Contribution Investment strategy. Prior to SSGA, Axsater served as the head of Defined Contribution Investment Strategy and Product Management at BlackRock. Previous roles at predecessor Barclays Global Investments included chief of staff for its Global Market Strategies Group and investment strategist and portfolio manager of a long-short global market strategy in the Global Advanced Active group. He began his investment career with Barclays in 1996.

“Wells Fargo Asset Management’s priorities align well with what I believe clients will want and need in the future,” said Axsater. “I am excited for the opportunity to be at the heart of this effort. I look forward to working with others across Wells Fargo to leverage the organization’s depth of investment expertise and help clients solve the challenges and problems most important to them.”

Axsater earned a master’s degree in business administration from the University of Illinois, Urbana-Champaign and a bachelor’s degree in electrical engineering from the University of San Diego. He has earned the right to use the Chartered Financial Analyst® (CFA®) designation.