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State Street appoints senior investment advisor
Richard Lacaille will lead company-wide ESG programme
20 Nov 2020 | The Asset
Richard Lacaille
Richard Lacaille

State Street Corporation 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.

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.

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, according to a company statement.

“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,” says 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.”

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 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.

Lacaille and Heinel will assume their respective new roles by March 31 2021.

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