John Tucker to be Promoted to Succeed Blake,
and Karen Wong to Join as Global Head of ESG and Sustainable
Investing
State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today announced that Lynn
Blake, Chief Investment Officer, Global Equity Beta Solutions
(GEBS) will be retiring on September 30, 2021, after a
distinguished career with State Street spanning over three decades.
John Tucker will be promoted to the role upon Blake’s retirement.
Tucker began his career at State Street Global Advisors in 1990 and
has held a number of senior roles within GEBS over the past 20
years. Since 2017, he has served as Chief Operating Officer of
Investments, where he worked across all the investment teams,
including the GEBS team, to drive enterprise-wide projects and
manage key capabilities supporting the investment organization. He
is a Chartered Financial Analyst.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210602005913/en/
Lynn Blake (Photo: Business Wire)
The firm also today announced the appointment of Karen Wong, who
will join State Street Global Advisors on June 14, 2021 in the
newly created role of Global Head of Environmental, Social and
Governance (ESG) and Sustainable Investing. Wong most recently was
Managing Director and Head of Index Portfolio Management for Mellon
Investments Corporation. Wong was instrumental in Mellon’s ESG
efforts going back to 2014, and she formally took on the additional
role of ESG Champion in 2020. She has held a number of roles with
Mellon since 2000. She is a Chartered Financial Analyst and is
fluent in both English and Chinese.
Blake, who joined State Street in 1987 and took on her current
role in 2011, was instrumental in creating, developing and managing
many of the world’s earliest index funds. Under Blake’s leadership,
the GEBS business has grown to be an industry leader, managing over
1,400 portfolios and ETFs with assets in excess of $2.3 trillion
across all equity index and smart beta strategies as of March 31,
2021. Blake also oversees the Asset Stewardship team, Company Stock
Group, and GEBS’ model creation and research efforts.
The portfolio management, model creation and research efforts,
and the Company Stock Group will be taken over by Tucker, with the
support of the long-tenured leadership team within GEBS. In
addition to her primary GEBS responsibilities, Blake has been a key
player in growing State Street Global Advisors’ ESG and asset
stewardship capabilities. These areas will report to Wong in her
new role. Under Wong’s leadership, State Street Global Advisors
will bring together the distinct functions across the firm that
support ESG, including ESG investment strategy, ESG integration,
and asset stewardship.
“I thank Lynn for her tremendous leadership and contributions
over the years, and wish her every happiness in her retirement,”
said Cyrus Taraporevala, President and Chief Executive Officer of
State Street Global Advisors. “We are fortunate to have John
Tucker, who has built his career with State Street, so
well-positioned to take the reins. We are also pleased to welcome
Karen Wong, who will do a tremendous job bringing together and
expanding the market-leading ESG capabilities we’ve built over the
years.”
“As we say farewell to our valued colleague Lynn, we feel
confident that we have two exceptional leaders to take forward the
great work Lynn has done, both in GEBS overall, and with our ESG
and stewardship programs,” said Lori Heinel, Global Chief
Investment Officer of State Street Global Advisors. “John has a
strong grasp on the processes and people of GEBS, including risk
management, trading, and execution. And I am excited to have Karen
join us to lead a newly integrated ESG function, bringing together
asset stewardship, ESG integration, and ESG investment
strategy.”
Blake was instrumental to the 2017 launch of the Fearless Girl
campaign, which drove a global focus on the value of gender
diversity in the boardroom, and to the 2016 creation of the SPDR
SSGA Gender Diversity Index ETF (SHE). Melissa Kapitulik, Senior
Portfolio Manager, GEBS and Amy Cheng, Senior Portfolio Manager,
GEBS have been co-Portfolio Managers of SPDR SSGA Gender Diversity
Index ETF (SHE) along with Lynn Blake since the fund’s inception.
Kapitulik and Cheng will continue to co-manage that fund and will
absorb Blake’s portfolio management responsibilities.
“As I reflect on my time at State Street over the last three
decades, I have been so fortunate to work with many extraordinarily
talented women and men who were impactful in my career and in our
success in index investing,” added Blake. “I embark on the next
chapter knowing I leave behind one of the best teams in the
industry, and so many colleagues who will remain lifelong
friends.”
Blake will partner closely with Tucker, Wong, Kapitulik and
Cheng over the next few months to ensure a smooth transition.
John’s COO responsibilities, including Trading and Investment
Oversight, will continue to report to him during the transition
period. Tucker and Wong will both report to Heinel.
About State Street Global Advisors
For four decades, State Street Global Advisors has served the
world’s governments, institutions and financial advisors. With a
rigorous, risk-aware approach built on research, analysis and
market-tested experience, we build from a breadth of active and
index strategies to create cost-effective solutions. As stewards,
we help portfolio companies see that what is fair for people and
sustainable for the planet can deliver long-term performance. And,
as pioneers in index, ETF, and ESG investing, we are always
inventing new ways to invest. As a result, we have become the
world’s third-largest asset manager with US $3.59 trillion* under
our care.
*This figure is presented as of March 31, 2021 and includes
approximately $60.33 billion of assets with respect to SPDR
products for which State Street Global Advisors Funds Distributors,
LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
State Street Global Advisors, One Iron Street, Boston, MA
02110
© 2021 State Street Corporation - All Rights Reserved
Expiration Date: 6/30/2022
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210602005913/en/
Media: Olivia Offner ooffner@statestreet.com
617-662-0198
State Street (NYSE:STT)
Historical Stock Chart
From May 2024 to Jun 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2023 to Jun 2024