BOSTON--(BUSINESS WIRE)--State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced that Lochiel Crafter has been named head of its Global Institutional Group, effective immediately, responsible for distribution efforts across the world. Crafter, who will be based in Boston, previously served as head of Asia Pacific for State Street Global Advisors, and assumes his new role from Cyrus Taraporevala, who was recently named president and chief executive officer of State Street Global Advisors. Crafter will report to Taraporevala.
“Lochiel has been an extremely important thought partner to me and a key part of our leadership team these past few years,” said Taraporevala. “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.”
Crafter is a nearly 30-year financial services industry veteran and member of State Street Global Advisors’ executive management group. Prior to leading State Street Global Advisors in Asia Pacific for the past five years, Crafter served as chief investment officer in the region for seven years. Prior to that, he served as chief executive officer of a large Australian superannuation fund. Crafter holds the Chartered Financial Analyst® designation. He earned his master’s degree from the University of Melbourne, and his bachelor’s degree from the University of New South Wales.
James MacNevin, who has been with State Street Global Advisors for 20 years, will take over for Crafter as head of Asia Pacific, also effective immediately. MacNevin most recently served as chief operating officer for the region and prior to that held a wide variety of roles across the globe. Among other accomplishments, MacNevin helped lead the launch of Australia’s first Exchange Traded Fund and established State Street Global Advisors’ presence in India. He will report to Crafter.
“James’ multi-disciplinary experience and record of success make him an ideal successor to Lochiel,” continued Taraporevala. “Both of today’s appointments are a testament to the depth of talent we have at State Street Global Advisors.”
About State Street Global Advisors
For nearly four decades, State Street Global Advisors has been committed to helping financial professionals and those who rely on them achieve their investment objectives. We partner with institutions and financial professionals to help them reach their goals through a rigorous, research-driven process spanning both active and index disciplines. We take pride in working closely with our clients to develop precise investment strategies, including our pioneering family of SPDR ETFs. With trillions* in assets under management, our scale and global footprint provide unrivaled access to markets and asset classes and allow us to deliver expert insights and investment solutions.
State Street Global Advisors is the investment management arm of State Street Corporation.
*Assets under management were $2.78 trillion as of December 31, 2017. AUM reflects approx. $35 billion (as of December 31, 2017) with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
State Street Global Advisors, One Lincoln Street, Boston, MA 02111-2900.