GLOBAL – Jeff Conway, State Street’s head of investor services in the UK, Middle East and South Africa, will return to Boston at the end of the year to take up the new role as head of executive operations, strategy and investor relations.

“It’s an incredible opportunity and a very senior position,” said a State Street spokesperson.

The new position will give Conway a global remit. He was also named executive vice president in October based largely on his work in the UK over the past five years.

Conway, 40, will replace executive vice president Marcel Zutter, who has been in this position for two years and who is moving to a new role in State Street’s global markets business as chief operating officer.

Peter Baker, who has headed up State Street’s pension and collective fund business in the UK for the past 18 months, will be taking over from Conway from January 1 2006.

“Peter and Jeff worked shoulder to shoulder for the past 18 months making for a seamless handover,” said the spokesperson.

She added: “This is a well-placed succession, which means the handover will be no issue.”

Baker, 44, also served as managing director of State Street Australia for three years.

According to State Street, “a deep bench of management” will carry Baker’s soon-to-be former responsibilities.

Executives such as asset owner head Alasdair Reid, group asset manager Wade McDonald and Scotland managing director Michael Walsh would absorb Baker’s role.

“Although I will miss working with my colleagues, we have a deep and talented management team in place which will continue to lead our business,” said Conway.

Baker added: “We have achieved tremendous growth and success during Jeff’s tenure and I look forward to building on this foundation.”