UK – State Street’s performance measurement division WM Co. has appointed Michael Walsh of HSBC as its new UK managing director.

He replaces Peter Adams, who has assumed a role at State Street Corp. as head of its pension fund servicing team. The Edinburgh-based company was acquired by State Street at the end of 2002 as part of a deal to buy Deutsche Bank’s custody business.

Before joining WM, Walsh worked at HSBC for nearly 15 years, most recently as head of investment services and managing director of HSBC Investment Funds (UK).

Commenting on the appointment, Jeff Conway, managing director of State Street’s investor services business for Northern Europe, Middle East and Africa, said: “We look forward to a time of innovation, change and continued determination [in the WM Company and the pensions industry as a_whole].”

State Street has been focusing on developing the WM Company brand since its acquisition last year.

WM is an investment performance measurement company operating in the Netherlands and the UK.