Yie-Hsin Hung Named President & CEO of State Street Global Advisors
September 27 2022 - 8:45AM
Business Wire
Appointment follows planned retirement of Cyrus Taraporevala
State Street Corporation (NYSE: STT) announced today that it has
appointed Yie-Hsin Hung as president and chief executive officer
(CEO) of State Street Global Advisors (Global Advisors), its asset
management business. Hung succeeds Cyrus Taraporevala, whose
planned retirement was announced earlier this year. She will join
Global Advisors in December 2022, reporting to State Street
Chairman and Chief Executive Officer Ron O’Hanley and will join
State Street’s Executive Committee.
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Yie-Hsin Hung , president and chief
executive officer (CEO) of State Street Global Advisors (Photo:
Business Wire)
Hung joins Global Advisors from New York Life Investment
Management (NYLIM), where she served as chief executive officer
since 2015. While at NYLIM, Yie-Hsin led a multi-boutique, global
investment management business that provides a broad range of fixed
income, alternatives, equity and ESG capabilities. During her
tenure at the firm, Hung led NYLIM to achieve a nearly four-fold
increase in assets under management. Prior to assuming the role of
CEO of NYLIM, Hung held numerous senior executive roles including
co-president and chairman of NYLIM International. Before joining
NYLIM, she held leadership positions at Bridgewater Associates and
Morgan Stanley.
“We are delighted to welcome Yie-Hsin to State Street. She is an
industry veteran, who brings to Global Advisors her notable history
of delivering growth,” said O’Hanley. “Her career has been
impressive, successfully delivering strong results as she expanded
NYLIM’s investment capabilities, entered new markets and
strengthened the business’ data and technology infrastructure. She
also brings a true commitment to fostering a culture of inclusion,
collaboration and product innovation.”
“I am excited to join State Street Global Advisors, an
organization and leadership team that I have had the opportunity to
work with at various points over my career,” said Hung. “It is a
pivotal time in the asset management industry, and I look forward
to building on the strong foundation at Global Advisors to continue
to drive growth and help prepare our clients for the future.”
In 2022, Hung was named to Barron’s list of the 100 Most
Influential Women in US Finance for the third time, and in 2021,
she was selected by American Banker as one of the 25 Most Powerful
Women in Finance for the fifth consecutive year. She has also been
named by Forbes to its list of 50 over 50. She is a member of the
Board of Trustees of Northwestern University; the Chair of the
Executive Committee and Board of Governors of the Investment
Company Institute (ICI); the US Institute Asset Management CEO
Roundtable; C200; The Women’s Forum of New York and the National
Association of Corporate Directors. Hung also serves on the
non-profit board of Next for Autism.
Hung earned her MBA from Harvard University and B.S. in
Mechanical Engineering from Northwestern University, from which she
received a Distinguished Alumni Medal in 2019, the highest honor
granted by the Northwestern Alumni Association.
On Hung’s arrival, Taraporevala will assume the role of advisor
and stay through early 2023 to provide a smooth transition of
responsibilities.
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 $38.2 trillion in assets
under custody and/or administration and $3.5 trillion* in assets
under management as of June 30, 2022, 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 as of June 30, 2022 includes
approximately $66 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.
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 index and
active 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 fourth-largest asset manager* with US $3.48 trillion† under
our care.
*Pensions & Investments Research Center, as of 12/31/21.
†This figure is presented as June 30, 2022 and includes
approximately $66.43 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.
© 2022 State Street Corporation - All Rights Reserved
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Media: Ed Patterson epatterson@statestreet.com +1 404 213
3106
Investor Relations: Fiszel Bieler, Ilene
ifiszelbieler@statestreet.com +1 617 664 4122
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