BOSTON, June 19 State Street Corp
announced on Wednesday that global equities chief Alistair Lowe
will leave the company by the end of the year as part of a
shake-up in its asset management division.
The move comes as State Street Global Advisors combines its
cash and fixed income asset classes under Steve Meier. He will
become chief investment officer of fixed income, currency and
cash, Boston-based State Street said in a news release.
At the end of March, State Street had $2.18 trillion in
assets under management. Most of that money is in passive
investments, such as exchange-traded funds.
"We believe that the boundaries between fixed income
disciplines are blurring and that a broad view is beneficial,"
said Rick Lacaille, SSgA's chief investment officer. "For
instance, it is clear that cash management is moving away from a
traditional money market framework and that optimal portfolio
management now incorporates skills typically associated with
managing longer dated fixed income securities."