State Street To Appoint Brad Hu to Chief Risk Officer
October 25 2021 - 3:37PM
Business Wire
Appointment follows planned succession of Andrew Kuritzkes
State Street Corporation (NYSE: STT) today announced that it has
named Brad Hu its chief risk officer, effective January 1, 2022. Hu
succeeds Andrew Kuritzkes, who is retiring from State Street. Hu
will join the company in November as a member of its Executive
Committee for a transition period with Kuritzkes.
Hu was previously the chief risk officer at Citigroup for eight
years, where he was credited with significantly reducing the firm’s
risk profile while guiding it through significant geopolitical and
economic disruptions. Prior to this role, he served as chief risk
officer for Citi Asia Pacific, where he was responsible for
managing the firm's risks across all of Citi’s businesses in the
region’s 17 markets, including consumer banking, corporate and
investment banking, securities and trading, and private
banking.
Prior to joining Citi in 2008, Hu worked at Morgan Stanley for
more than 20 years, where he held a number of senior leadership
roles across the Global Equity, Global Capital Markets and
Investment Banking divisions. He also has more than 15 years of
experience in Asia, having worked and lived in Hong Kong, Tokyo and
Taipei, where he was chief executive officer of Morgan Stanley
Taiwan. Hu’s breadth of industry experience, including front-line
origination and product roles, allows him to assess and manage risk
across a broad range of perspectives.
“With more than three decades of financial services experience,
Brad brings a global risk expertise and approach to help us
continue to execute against our strategic priorities,” said Ron
O’Hanley, chairman and chief executive officer of State Street.
“Brad’s deep experience across asset classes, risk categories,
complex financial instruments and diverse markets will drive
significant impact across all of our constituencies.”
“I am tremendously excited to be joining State Street,” said Hu.
“The risk management challenges facing global financial leaders
like State Street have never been greater, nor have the supervisory
expectations been higher. I look forward to working with State
Street’s outstanding team of risk management professionals to help
business leaders around the world stay on top of and ahead of a
diverse, complex and rapidly evolving global risk landscape.”
Hu serves as Chairman of the Board of Trustees for the Global
Association of Risk Professionals (GARP), is a member of the
Financial Advisory Roundtable of the Federal Reserve Bank of New
York and serves on the Dean’s Advisory Council for the MIT School
of Science as well as the Board of Advisors for the Tuck School of
Business Administration at Dartmouth College.
“I would also like to thank Andy Kuritzkes for his decade of
service at State Street,” added O’Hanley. “He has engrained a
culture of risk excellence into our day-to-day activities and we
wish him the best in the next chapter of his career.”
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 $43.3 trillion in assets
under custody and/or administration and $3.9 trillion* in assets
under management as of September 30, 2021, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of September 30, 2021 includes
approximately $60 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.
© 2021 State Street Corporation - All Rights Reserved
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Media: Ed Patterson epatterson@statestreet.com 1 404 213
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