STATE Street Global Advisors, the asset management business of State Street Corporation, has appointed James MacNevin, chief operating officer for Asia-Pacific, as head of its Asia-Pacific business, effective immediately.

MacNevin replaces Lochiel Crafter, who has been named head of the global institutional group with responsibility for State Street Global Advisors’ institutional distribution across the globe.

In his new role, MacNevin will oversee State Street Global Advisors’ business across the Asia-Pacific region. Based in Sydney, MacNevin will report directly to Crafter.

“James is a 20-year veteran with the firm and has held a wide variety of roles across the globe including leading the launch of Australia’s first ETF and establishing our presence in India,” says Cyrus Taraporevala, president and chief executive officer of State Street Global Advisors. “His multi-disciplinary experience and record of success in the Asia Pacific region make him an ideal successor to Lochiel. Asia-Pacific is critical to our global strategy and we believe his experience and knowledge of our business will add tremendous value as we continue to develop and enhance our offerings to institutional and retail clients in the region.”

MacNevin has more than 30 years of asset management industry experience and a deep knowledge of the Asia-Pacific market. He joined State Street Global Advisors in 1994. Prior to his role as Asia-Pacific chief operating officer, MacNevin served as international head of operations and technology based in London.