UK – Avinash Persaud, high-profile head of global research at State Street Corp., has left the company to run a currency investment fund.

Persaud had been with State Street for four years and was instrumental in building up the research team in the UK and Boston, which has now between 20 and 30 analysts.

One of the best-known currency analysts, Persaud has decided to set up a currency investment fund. It is not known which company he will be joining.

As yet there are no concrete plans as to who will fill the position of global head of research at State Street.

Prior to joining State Street in 1999, Persaud was head of currency research at J P Morgan. There he devised the widely-used Emu Calculator and the Risk Appetite Index. The Emu Calculator estimated the chances of success for countries which hoped to join the first wave of European monetary union. The Risk Appetite Index estimated much broader investor demand for risky investments.

Persaud has won major awards in international finance including the Jacques de Larosiere Award from the Institute of International Finance, and an Amex Bank Award.