State Street’s Hooley to Retire by End of 2018
State Street CEO will step down by end of next year, newly appointed COO Ron O’Hanley next in line for top seat.
Hooley has been at the helm of the custodian and asset manager since 2010 and will continue as chairman of State Street throughout 2019. He will be succeeded upon his retirement by O’Hanley, who has been appointed as president and COO of State Street, from his previous position president and CEO of State Street Global Advisors.
Prior to joining State Street in 2015, O’Hanley was president of asset management and corporate services at Fidelity Investments, with previous leadership positions during a 13-year stint at Bank of New York Mellon.
“I believe we have the right strategy in place to enable our clients’ success, and growth for our shareholders,” said O’Hanley in a statement. “Throughout our 225-year history our primary role has been as stewards—for the assets of our clients, for our shareholders, for our employees, and for the broader communities where we live and work. I am enthused about this opportunity and very confident in our ability to succeed.”
Cyrus Taraporevala replaces O’Hanley as president and CEO of State Street Global Advisors.
Last month, State Street appointed new global heads of its foreign exchange (FX) businesses, Currenex, FX Connect and Globallink. James Reilly joined State Street as global head of FX market technology provider Currenex, while Beverley Doherty was appointed global head of FX Connect, State Street’s FX execution venue.
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