William Hunt, chief executive of investment management firm State Street Global Advisors, has resigned as the firm set up a $600m (â¬406.3m) reserve to cope with legal and other costs it faces after the credit crisis.
The company, part of US bank State Street, will also establish a reserve to cope with legal and other costs after some of the firm's fixed-income strategies underperformed, and customers raised concerns about whether the strategies were executed in their best interests.
