Justin Pascoe, CIO at State Street Global Advisors (SSgA), has left the firm to join Goldman Sachs Asset Management. He began working at GSAM on Monday as managing director for quantitative product strategy. He is based in Hong Kong and will be responsible for overseeing relationships with GSAM's clients in the Asia region.

This is a new dedicated role set up by the company which sees Asia as an increasingly important region for the marketing of its quant capability to institutional investors.

The bulk of GSAMÆs quant strategy team is based in London and provides underlying investment models for products sold on by institutional clients including absolute return, hedge fund, fixed income, equities and commodities funds and structures.

The team is led by director of quantitative resources Robert Litterman, based in New York, who co-authored the Black-Litterman Global Asset Allocation Model with Nobel prize-winning economist the late Fischer Black. Litterman is responsible for quantitative and global investment strategies.

State Street has yet to announce a replacement for Pascoe. He joined the firm in 1999 and served both in Hong Kong and Australia. He was named Asia CIO in 2005 when he transfered to Hong Kong for his second stint in the territory.