just hired a fellow Fidelity
alumnus for a top spot at State Street Global Advisors (SSgA
| Ronald O'Hanley|
State Street Global Advisors
Chief Executive Officer
Today O'Hanley confirms
that Cyrus Taraporevala
is joining Boston-based SSgA as executive vice president and global head of product and marketing. Taraporevala will report directly to O'Hanley and will also oversee the integration of GE Asset Management
once that deal
had served as SSgA's head of global product and marketing for eight years. It appears that he changed roles last month, to head of integration and transition. MFWire
could not immediately reach Astley himself or an SSgA spokesperson for comment.
Taraporevala previously served as head of retail managed accounts and life insurance and annuities businesses at Fidelity
, which is also Boston-based and where O'Hanley once held
a top position.
Fidelity spokesman Joe Madden offered MFWire
the following emailed statement (emphasis added):
Cyrus Taraporevala left Fidelity in October, 2015. As a result of the move, Investment Solutions was consolidated under the leadership of Ram Subramaniam, President of Fidelity Brokerage. Under this new structure, Subramaniam continues to lead Fidelity’s Retail Brokerage, Cash Management and Fixed Income teams as well as Managed Accounts, Fidelity Life Insurance Company (FILI) and the Personal & Workplace Investing Planning & Guidance team.
Subramaniam, who reports to Kathleen Murphy, President of Fidelity Personal Investing, has helped grow Fidelity’s retail brokerage business into the largest on-line brokerage firm with more than 16.8 million customer accounts and more than $1.5 trillion in assets.
At SSgA, O'Hanley lauds Taraporevala's "deep financial industry expertise and experience" and puts the hiring in the context of how "asset management product development and marketing continue to quickly evolve."
Prior to Fidelity, Taraporevala worked at BNY Mellon, Legg Mason, Citigroup, and McKinsey.
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