The asset management division of State Street Corporation, State Street Global Advisors (SSGA), has named Lochiel Crafter as head of its Global Institutional business to be made effective immediately.
Crafter, to be based in Boston, succeeds Cyrus Taraporevala and will now report to him, as he was recently named president and CEO of State Street Global Advisors.
Before being appointed – to be responsible for distribution efforts across the world – Crafter served as head of Asia Pacific for State Street Global Advisors, a role now taken by James MacNevin.
Crafter, with some 30 years’ financial experience and member of State Street Global Advisors’ executive management group, also served as chief investment officer in Asia Pacific for seven years. Prior to that, he served as chief executive officer of a large Australian superannuation fund.
MacNevin, who has been with State Street Global Advisors for 20 years and will report to Crafter, formerly worked as chief operating officer for the region and prior to that held a wide variety of roles worldwide, including the contribution in the launch of Australia’s first Exchange Traded Fund and in the established presence of State Street Global Advisors in India.
Cyrus Taraporevala said: “Crafter has been an extremely important thought partner to me and a key part of our leadership team these past few years. He has a unique background in our industry, including experiences not only on the distribution and investment management front, but also as a client. That mix of perspectives is something we’ll benefit greatly from as we continue to focus on serving our clients’ evolving needs.
“MacNevin’s multi-disciplinary experience and record of success make him an ideal successor to Crafter. Both of today’s appointments are a testament to the depth of talent we have at State Street Global Advisors.”