UK – State Street Global Advisors’ UK chief investment officer, Chris Woods, has been moved into a different role and is being replaced by Rick Lacaille, former head of structured products.

Woods joined State Street Global Advisors in 1997 as a senior portfolio manager, before becoming UK chief investment officer in 2000. He will now become head of global hedge fund investment strategy – a new role within the company – and will continue to report to Alan Brown, group chief investment officer.

Brown commented that Woods had been involved in hedge fund strategies for several years, and that the “new global role is a reflection of his interest and knowledge in this area”.

Lacaille will replace Woods, becoming responsible for overseeing all investment activities undertaken in London, and also reporting to Brown. His former role as head of structured products will be filled by deputy head, Richard Hannam.

State Street Global Advisors manages 788 billion dollars (671.8 billion euros) in assets worldwide, of which 50 billion pounds (71.1 billion euros) is managed by SSGA UK.