State Street Appoints Rick Lacaille to Newly-Created Role of Senior Investment Advisor to Lead Company-Wide ESG Program
November 19 2020 - 11:30AM
Business Wire
Lori Heinel Promoted to Global Chief Investment Officer of State
Street Global Advisors
State Street Corporation (NYSE: STT) today announced that it has
appointed Richard F. Lacaille to the newly-created role of senior
investment advisor and has promoted Lori Heinel to global chief
investment officer for State Street Global Advisors.
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Rick Lacaille (Photo: Business Wire)
In his new role, Lacaille will provide enterprise-wide
leadership of the company’s Environmental, Social and Governance
(ESG) solutions, services and thought leadership across all of
State Street’s businesses. Lacaille will report to Ronald O’Hanley,
chairman and chief executive officer of State Street
Corporation.
For many years, State Street has been at the forefront of
innovation across its businesses, developing best-in-class ESG
capabilities including reporting and analytics tools, premier
academic research, and investment solutions and products. With
client demand for ESG servicing, guidance and investment solutions
continuing to increase, Lacaille will ensure State Street’s ESG
efforts and strategies are well-coordinated and optimized to serve
clients’ evolving needs.
“With more than two decades of leadership at State Street Global
Advisors and his role as chair 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,” said
O’Hanley. “We believe ESG considerations drive long-term value for
investors, and will only become increasingly more important as
drivers of return and risk. Rick and his team have developed
innovative strategies to help thousands of institutions and
intermediaries world-wide and the millions of people they serve.
His background, combined with his holistic view of our strategy and
strong client focus, ideally positions him for this new role.”
Lori Heinel, who joined State Street Global Advisors in 2014 as
chief portfolio strategist and has served as deputy global chief
investment officer since 2016, will assume the role of global chief
investment officer. 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 role, Heinel will oversee the full
spectrum of industry-leading investment capabilities from index
funds and ETFs to active, multi-asset class solutions and
alternative investments. She will lead an investment team of more
than 600 professionals globally. Heinel will report to Cyrus
Taraporevala, president and chief executive officer of State Street
Global Advisors.
“Lori taking the reins as global chief investment officer will
bring to fruition years of succession planning,” said Taraporevala.
“Lori is a change leader who I believe is strongly positioned to
lead State Street Global Advisors’ Investments team, as we continue
the investment innovation which has been a hallmark of our strategy
for decades.”
“Lori and I have worked closely together for the past six years
and her investment expertise coupled with her exceptional
client-driven perspectives, will enable her to deliver solutions to
meet a diverse array of client needs,” said Lacaille. “With her
keen understanding of the role ESG plays in portfolios, I know
she’ll continue to be a great partner to me in my expanded
company-wide role as we build on the great strides we’ve made to
advance the ESG conversation.”
“I look forward to continuing to partner with Rick as State
Street takes the next steps on its ESG journey under his
leadership,” added Heinel. “In taking on the role of global chief
investment officer, I’m energized by the strong team we’ve built
and its well-deserved reputation for combining investment expertise
with client service. I look forward to leading the charge to help
our clients navigate markets in search of successful investment
outcomes.”
Lacaille and Heinel will assume their respective new roles by
March 31, 2021 after a careful and deliberate transition.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $36.6 trillion in assets
under custody and/or administration and $3.1 trillion* in assets
under management as of September 30, 2020, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of September 30, 2020 includes
approximately $81 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2020 State Street Corporation - All Rights Reserved
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Olivia Offner OOffner@StateStreet.com +16176620198
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