Paul Lucek will become CEO and Robert P. Covino Jr. will become president of alternative investment manager SSARIS Advisors, effective Jan. 1.
Mr. Lucek will retain his role as chief investment officer of the firm's hedge fund unit. He replaces Mark Rosenberg as CEO.
Mr. Rosenberg will remain co-chairman of SSARIS' board of directors through the end of 2014, when he will retire. His additional role of global CIO will be eliminated, Mr. Covino said in an interview.
Mr. Covino will combine the newly created role of president with his current responsibilities as head of business development. Mr. Covino's current title is executive vice president.
SSARIS managed a total of $1.4 billion on a discretionary basis in hedge funds and hedge funds of funds as of Nov. 30, Mr. Covino said. SSARIS also provides consulting advice to institutional investors with aggregate assets of $740 million.
SSARIS is a subsidiary of State Street Global Advisors.