SSgA hires active equities head

Liu Fangsheng, an active equity portfolio manager at Barclays Global Investors in Tokyo, has left to join arch-rival State Street Global Advisors to lead the firm's active equities team. He reports now to SSgA's Japan CIO, Hideki Takayama, and will run a five-person team. The move represents a localization of SSgA's Japan equities strategies, which previously have been designed from a team of analysts in Boston. Liu's brief will cover all active equities strategies, from long-only T…