State Street has appointed a new global CIO for State Street Global Advisors (SSGA) as part of an environmental, social and governance push.
The current global CIO Richard Lacaille (pictured) will take over the newly created position of Senior Investment Advisor until March next year.
Lacaille will lead a company-wide ESG program and oversee ESG solutions for the $ 3.1 trillion company. He will also ensure that his efforts and strategies are aligned with the client’s needs.
Since joining the company in 2000, Lacaille has been Head of Global Active Equities and European CIO, among other things.
In his new role, he will report to State Street Chairman and CEO Ronald O’Hanley.
Meanwhile, Lori Heinel has been promoted to global CIO of SSGA. She has been Deputy Global CIO since 2016.
Heinel joined SSGA in 2014 as Chief Portfolio Strategist. Before that, she held various managerial positions at Oppenheimer Funds, Citi Private Bank and SEI Investments.
In her new role, she will oversee the company’s investment capacity and lead over 600 employees worldwide. Heinel reports to Cyrus Taraporevla, President and CEO of SSGA.
“With her deep understanding of ESG’s role in portfolios, I know she will continue to be a great partner in my expanded company-wide role,” said Lacaille.
In September, State Street expanded its presence in the Asia Pacific region with two new hires from BNP Paribas.
Mostapha Tahiri joined the company as the new head of Asia Pacific, while Joanne Chen joined the company as head of China.