Greg Ehret was named president of State Street Global Advisors, said company spokesman Brendan Paul.
Mr. Ehret replaced Ron O'Hanley, who will remain CEO of SSgA.
Mr. Ehret is responsible for SSgA's product and marketing operations and infrastructure teams. He will lead the non-investment aspects of the firm's strategies and help add to SSgA's investment capabilities. He will continue to report to Mr. O'Hanley.
Mr. Ehret was executive vice president and global chief operating officer for SSgA. The role of COO is being eliminated.
SSgA had $2.4 trillion in assets under management as of March 31.