Mr Baker will continue to be involved at the firm as a non-executive director.
"The main reason we are able to make these changes is the strength of Tria’s foundations," Mr Baker said.
"Tria is not built around any one person, including me. Although this transition is an important milestone, it’s really just another logical step in Tria’s progression and our aspiration to build the best consulting firm in the wealth, asset management and insurance industries," he said.
Tria parent company NMG Consulting's chief executive, Mark Prichard, said it would be 'business as usual' at Tria.
"Trialogue and Tria Super Funds Review will continue to be published, and not only will all of the big and little things clients have come to expect from Tria continue to be delivered, they will continue to get even better over time," Mr Prichard said.
Mr Hesketh, who was recently promoted to partner at NMG Consulting, said he was excited about the opportunity to lead and further develop Tria.
"We have an exceptionally strong team in place and I'm confident that Tria will continue to be a formidable and leading player in the consulting industry," he said.
Mr Hesketh has been with Tria since 2007, having worked his way through the ranks at the firm.
