J. H. "Jay" Cromarty resigned as president of SSgA Global Alliance LLC, Boston, to become Eastern region president of Boston Private Financial Holdings Inc., Boston, effective Aug. 16. Joseph Lyons, senior principal, was named acting head of the alliance.
SSgA Global Alliance is a joint venture between State Street Global Advisors and the 157 billion euro (US $189.4 billion) Stichting Pensioenfonds ABP, Heerlen, Netherlands.
Mr. Cromarty said he will establish more regional centers for the wealth manager, as well as identify asset managers for acquisition and strategic partnerships. Spokeswoman Kate Rajeck said 65% of the $15.3 billion managed by Boston Private's 10 asset manager affiliates is from institutional investors.