State Street Board of Directors Appoints Ron O’Hanley as Chairman
December 23 2019 - 8:00AM
Business Wire
As Previously Announced, Jay Hooley to Retire as Chairman on
December 31, 2019
State Street Corporation (NYSE: STT) today announced that its
board of directors has appointed Ronald P. (Ron) O’Hanley, State
Street’s chief executive officer, as chairman, effective January 1,
2020, following Jay Hooley’s planned retirement. Mr. Hooley has
served on the Board of Directors since 2009 and as Chairman of the
Board since 2011. Amelia Fawcett will continue in her role as State
Street’s independent lead director.
“We are pleased to name Ron as chairman,” said Amelia Fawcett.
“Ron’s appointment represents the culmination of the leadership
transition implemented by the board over the past several years.
Since becoming CEO in January, Ron has brought tremendous energy
and results-oriented management focused on creating shareholder
value. On behalf of the Board of Directors, I want to thank Jay for
his long and distinguished career at State Street and for guiding a
successful leadership transition.”
Greg Summe, chair of State Street’s Nominating and Corporate
Governance Committee, added “The board considered carefully the
issue of governance. The board has a Lead Director role similar to
an independent Chairman, overseeing board and committee agendas,
attending all committee meetings and working closely with the CEO.
Based on its experience, the board determined to continue with its
current Lead Director/Chairman structure.”
Ron joined State Street in 2015 as president and chief executive
officer of State Street Global Advisors, the Company’s investment
management arm. He also served as State Street’s president and
chief operating officer, beginning in 2017, prior to his
appointment as chief executive officer.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $32.90 trillion in assets
under custody and administration and $2.95 trillion* in assets
under management as of September 30, 2019, State Street operates
globally in more than 100 geographic markets and employs
approximately 40,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management include the assets of the SPDR® Gold
ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $44
billion as of September 30, 2019), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
State Street Corporation
One Lincoln Street, Boston, MA 02111
© 2019 State Street Corporation - All Rights Reserved
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version on businesswire.com: https://www.businesswire.com/news/home/20191223005219/en/
Investor Relations: Ilene Fiszel Bieler + 1 617.664.3477
IFiszelBieler@StateStreet.com
Media Relations Brendan Paul +1 401 644 9182
Bpaul2@statestreet.com
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