Ronald O’Hanley has been named as president and chief executive officer (CEO) of State Street Global Advisors (SSGA), following the announcement that Scott Powers will retire later this year.
O’Hanley, previously president of asset management & corporate services for Fidelity Investments, will work with Powers over the coming months to ensure a smooth transition.
O’Hanley will report to Jay Hooley, chairman and chief executive officer of State Street, and will join the company’s management committee. Hooley says: “Ron has a proven track record and extensive experience running a global multi-asset class investment management business. He also has broad experience across asset servicing.”
Prior to joining Fidelity, O’Hanley spent 13 years in leadership positions at Mellon Bank and Bank of New York Mellon, ultimately as president and chief executive officer of BNY Mellon Asset Management in Boston, vice chairman of Bank of New York Mellon and a member of its executive committee.
O’Hanley also oversaw Bank of New York Mellon’s activities in Asia. Prior to the 2007 merger of The Bank of New York and Mellon Financial Corporation, he was vice chairman of Mellon Financial Corporation and president and chief executive officer of Mellon Asset Management.
Before Mellon, O’Hanley was a partner with McKinsey & Company.
In the past five years, SSGA’s assets under management (AUM) have increased 22%. Exchange-traded funds AUM have grown by 85% and multi-asset class solutions AUM have grown by 48%.
©2015 funds europe
