MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, January 19, 2022 Who Will Take Over This $4.1T-AUM Firm? A $4.1-trillion-AUM (as of December 31) asset manager's chief is preparing to say goodbye. There is no word yet on who will take over for him.
O'Hanley lauds Taraporevala as "a strong voice on ... [ESG] issues and stewardship." "State Street Global Advisors has significantly strengthened its strategic position, leading to strong client and financial impact," O'Hanley states, noting that SSGA's AUM has risen nearly 50 percent since the end of 2017, the year Taraporevala took over. News of Taraporevala's impending retirement comes four months after reports that a publicly traded asset manager's team was in talks to merge with SSGA. (Like SSGA, that other asset manager's business lines include a sizable ETF business.) Today's news also comes 13 months after reports that State Street had hired a big investment bank to weigh strategic options for SSGA. Taraporevala, who turns 55 next month, joined SSGA in 2016 as executive vice president and global head of product and marketing, then served as head of the global institutional group before rising to president and CEO. Previously, he served as head of retail managed accounts and life insurance annuities business at Fidelity. Before that, he worked at BNY Mellon, Legg Mason, Citi, and McKinsey. He is an alumnus of the Cornell Johnson Graduate School of Management and of the University of Bombay's Sydenham College. Printed from: MFWire.com/story.asp?s=63897 Copyright 2022, InvestmentWires, Inc. All Rights Reserved |
