Lori Heinel has been promoted to global chief investment officer of State Street Global Advisors following a small reshuffle at the c-suite level.
The move comes following the appointment of the current global CIO, Rick Lacaille, to the newly-created role of senior investment advisor in which he will lead a company-wide ESG program.
Reporting to Ronald O’Hanley, chairman and chief executive, Lacaille will lead the development of the firm’s ESG investment capacity across the business.
O’Hanley said: “We believe ESG considerations drive long-term value for investors, and will only become increasingly more important as drivers of return and risk."
Lori Heinel, who takes over the helm as global chief investment officer, joined State Street in 2014 as chief portfolio strategist, and has served as deputy global chief investment officer for the last four years.
According to the firm, she has been a “driving force” for a number of key initiatives across the business, including implementing consideration of financially material ESG issues throughout the investment process.
In her new role, Heinel will oversee the full spectrum of the firm’s investment business, including index funds and ETFs, as well as active, multi-asset, and alternative investments. She will lead an investment team of more than 600 professionals globally.
She will report to Cyrus Taraporevala, president and chief executive officer of State Street Global Advisors.
Both Lacaille and Heinel will assume their respective new roles by the end of March next year.
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