State Street Global Advisors (SSGA) has named James MacNevin as the new head of its Asia Pacific business, replacing Lochiel Crafter who will now lead the firm’s global institutional group.
MacNevin has been working at SSGA for 20 years, most recently serving as the COO for the firm’s Asia Pacific business.
He helped launch Australia’s first exchange traded fund and also helped set up the firm’s footprint in India. MacNevin will report to Crafter in the new role.
Meanwhile, Crafter will now manage the firm’s distribution efforts worldwide, based in Boston.
Crafter has an experience of around three decades in the financial services industry. In the new role, he replaces Cyrus Taraporevala, who has now been handed over the role of president and CEO. 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. 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,” Taraporevala said.