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Money Management

SSGA’s Asia-Pacific head appointed to lead the firm’s global distribution efforts

Lochiel Crafter, the new head of State Street Global Advisors’ global institutional group

Lochiel Crafter, the Sydney-based head of State Street Global Advisors' Asia-Pacific business, has been named head of the firm's global institutional group, responsible for SSGA's distribution efforts around the world.

Mr. Crafter will relocate to SSGA's Boston headquarters to take on that new role, said a Hong Kong-based spokeswoman for the firm.

Mr. Crafter replaces Cyrus Taraporevala as head of the global institutional group. Mr. Taraporevala was promoted to CEO and president of SSGA in November, after predecessor Ronald O'Hanley was named president and chief operating officer of State Street Corp. (STT), positioning him to succeed Jay Hooley as CEO at the end of 2018. Mr. Crafter reports to Mr. Taraporevala.

James MacNevin, SSGA's Sydney-based chief operating officer, Asia-Pacific, takes on Mr. Crafter's previous role as head of the firm's Asia-Pacific business.

Mr. MacNevin, a senior managing director and 20-year veteran with SSGA, will continue to be based in Sydney.

The SSGA spokeswoman couldn't comment immediately on plans to replace Mr. MacNevin as COO for the Asia-Pacific region.