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Yie-Hsin Hung, president and CEO of State Street Global Advisors

Portfolio > Asset Managers

State Street Global Advisors Names Next CEO

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What You Need to Know

  • Yie-Hsin Hung will succeed Cyrus Taraporevala in December.

State Street Corp. has appointed New York Life Investment Management CEO Yie-Hsin Hung as president and CEO of State Street Global Advisors, its asset management business. 

She will join the organization in December, succeeding Cyrus Taraporevala, whose planned retirement the firm announced earlier this year. Taraporevala will assume the role of advisor and stay through early 2023 to provide a smooth transition, State Street said.

Hung will report to State Street Chairman and CEO Ron O’Hanley and join State Street’s executive committee. 

She has served as New York Life Investment Management CEO since 2015, leading the multi-boutique, global investment management business to achieve a nearly four-fold increase in assets under management. Hung previously served in numerous senior executive roles at NYLIM, and earlier held leadership positions at Bridgewater Associates and Morgan Stanley.

“We are delighted to welcome Yie-Hsin to State Street. She is an industry veteran, who brings to Global Advisors her notable history of delivering growth,” O’Hanley said. “Her career has been impressive, successfully delivering strong results as she expanded NYLIM’s investment capabilities, entered new markets and strengthened the business’ data and technology infrastructure. She also brings a true commitment to fostering a culture of inclusion, collaboration and product innovation.”

“I am excited to join State Street Global Advisors, an organization and leadership team that I have had the opportunity to work with at various points over my career,” said Hung, who earned an MBA from Harvard. “It is a pivotal time in the asset management industry, and I look forward to building on the strong foundation at Global Advisors to continue to drive growth and help prepare our clients for the future.”

State Street Global Advisors, one of the world’s largest asset managers, is a top competitor in the ETF market that it helped pioneer.

It was the third largest ETF provider in net assets as of Sept. 1, after BlackRock iShares and Vanguard and ahead of Invesco and Charles Schwab, with $966 billion in net assets and a 15% market share, according to Morningstar.

SSGA was only eighth, however, in estimated year-to-date net inflows, with $8.5 billion.

Among other honors and positions, Hung chairs the Executive Committee and Board of Governors of the Investment Company Institute after becoming the first woman and person of color selected for the chair role last year.


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