State Street Global Advisors, the US-based asset management group which lost a team of active quantitative managers to rival Lazard last month, has begun filling the gap by hiring a fund manager and academic from Old Mutual.

Christos Koutsoyannis, formerly deputy head of quantitative research at Old Mutual Asset Managers, joined State Street earlier this month and will work in both research and fund management, as well as continuing with a PhD in portfolio risk from the University of London.