State Street Corp., the world's largest manager of institutional assets, promoted Paul Duncombe to managing director of its U.K. fund business Friday.
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Mr. Duncombe, who was global head of currency management at State Street Global Advisers for nine years, succeeds Nigel Wightman, who left the company in March. Mr. Duncombe had been Mr. Wightman's deputy since 2001, the company said.
Tony Spence, who joined Boston-based State Street in 2003, is to succeed Mr. Duncombe as head of currency management, it said.
