State Street CEO Jay Hooley will retire in two weeks, after 30-plus years with the asset manager and eight years as its leader.
The CEO slot will be filled on Jan. 1 by Ron O’Hanley, who became State Street’s president and COO a year ago, when news of the succession plans were first announced. He was tapped as State Street’s vice chairman in early 2017.
“Our most significant differentiator at State Street will always be our people, and my greatest source of pride over the past eight years has been to lead this talented 36,000-strong team,” said Hooley, in a statement last year. “I am very confident that Ron has the right qualities, expertise and vision to lead the next phase of State Street’s growth.”
State Street had nearly $34 trillion in assets under custody and administration and roughly $3 trillion of assets under management as of Sept. 30, including $28 billion of assets in SPDR products sold by State Street Global Advisors Funds Distributors.
Before joining State Street in 2015, O’Hanley was president of Asset Management & Corporate Services for Fidelity Investments. Earlier, he spent 13 years in leadership positions at Mellon Bank and Bank of New York Mellon, including the role of CEO of BNY Mellon Asset Management.
O’Hanley’s roles as president and CEO of State Street Global Advisors were taken on by Cyrus Taraporevala a year ago.
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