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State Street Global Advisors names head of global institutional group

State Street Global Advisors Inc. has appointed Lochiel Crafter head of its global institutional group, effective March 1.

Crafter will be based in Boston and assumed his new role from Cyrus Taraporevala, who was recently named president and CEO of the company.

James MacNevin, who has been with State Street Global Advisors for 20 years, will take over for Crafter as head of Asia Pacific, also effective March 1.

State Street Global Advisors is the asset management arm of State Street Corp.