Lori Heinel will be promoted to global chief investment officer State Street Global Advisors, effective next year, the company said Thursday.
She is to replace London-based Richard F. Lacaille, executive vice president, who will assume the new role of senior adviser to oversee the ESG activities of State Street Corp., SSGA’s parent company.
Ms. Heinel and Mr. Lacaille will begin their new roles on March 31 after a transition period, a news release said.
Ms. Heinel, who is based in Boston, joined SSGA in 2014 as chief portfolio strategist and was appointed deputy global CIO in 2016.
SSGA hasn’t determined a replacement for Ms. Heinel as deputy global CIO, spokeswoman Olivia Offner said in an interview.
In her new role, Ms. Heinel will have oversight of all SSGA investment strategies and an investment team of more than 600 employees. She will report to Cyrus Taraporevala, president and CEO of SSGA.
“Lori taking the reins as global chief investment officer will bring to fruition years of succession planning. Lori is a change leader who I believe is strongly positioned to lead State Street Global Advisors’ (investment) team,” Mr. Taraporevala said in the release.
Mr. Lacaille joined SSGA in 2000 and his previous position was European CIO.
In his new role, Mr. Lacaille will provide “enterprise-wide leadership of the company’s (ESG) solutions, services and thought leadership across all of State Street’s businesses” and will report to Chairman and CEO Ronald P. O’Hanley.
“With more than two decades of leadership at (SSGA) and his role as chairman of State Street’s executive corporate responsibility committee, Rick is absolutely the right leader to take our firm’s ESG efforts to the next level,” Mr. O’Hanley said in the release.
SSGA managed $3.1 trillion as of Sept. 30.