Ron O'Hanley is adding another hat next week as a veteran leader is retiring.

Ronald Philip O'Hanley State Street Corporation President, CEO

This morning, Amelia Fawcett, lead independent director of State Street Corporation (parent of State Street Global Advisors, i.e. SSgA [profile]) confirms that O'Hanley, State Street's president and CEO, will become chairman, too, on January 1. O'Hanley will succeed outgoing chairman Jay Hooley, who is retiring as expected since O'Hanley's ascension (which took effect at the beginning of 2019) to CEO was revealed two years ago.

"Ron's appointment represents the culmination of the leadership transition implemented by the board over the past several years," Fawcett states, lauding O'Hanley for bringing "tremendous energy and results-oriented management" to State Street.

"On behalf of the Board of Directors, I want to thank Jay for his long and distinguished career at Street and for guiding a successful leadership transition," Fawcett adds.

O'Hanley, an alumnus of Syracuse University and of Harvard, joined State Street in 2015 as president and CEO of SSgA. Prior to that he led asset management at Fidelity and BNY Mellon, and earlier on he worked at McKinsey.

Hooley, an alumnus of Boston College, first joined State Street in 1986. He moved on to a State Street-DST joint venture and led National Financial Data Services and then BFDS. He returned to Street in 2000, rose to president and chief operating officer in 2008, took over as CEO in 2010, and became chairman in 2011. He passed the CEO hat to O'Hanley at the beginning of 2019. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE