State Street Corporation has appointed Andrew Allright as CEO of InfraHedge, the firm’s managed account business.
Allright has been with InfraHedge since March 2011, serving as head of client solutions.
Allright will work alongside Ravi Raman, COO, as well as new hires, including Robert Vanderpool, president of InfraHedge North America, and Lizzy Buss, head of Europe, the Middle East and Africa, as well as Asia Pacific business development.
InfraHedge has more than $30 billion of client assets and designs, builds and operates customised platforms for institutional investors to manage their third-party investment programmes.
Commenting on Allright’s new role, George Sullivan, global head of State Street’s Alternative Investment Solutions business, said: “The InfraHedge business has shown tremendous growth over the last few years.”
He added: “I look forward to Andrew Allright and his team driving it through the next stage of its development by taking advantage of the attractive market environment.”
“Managed accounts are increasingly becoming the preferred choice for institutional investors, and we have great confidence in the attractiveness of our platform business, which has been designed since inception to focus entirely on the needs of investors in order to help generate the best possible outcomes.”
