All change at the top as SSGA CEO retires

RetirementJay Hooley is retiring as chief executive of State Street Global Advisors (SSGA) in 2018, setting in motion a reshuffle of senior positions in the company.

Hooley, who has spent over three decades with the company, will remain as chairman throughout 2019.

SSGA’s board of directors has appointed Ron O’Hanley to president and chief operating officer, but he will take over as CEO when Hooley steps down. O’Hanley is a previous vice chairman of State Street and is the president and CEO of State Street Global Advisors.

Before joining State Street in 2015, O’Hanley was president of asset management and corporate services for Fidelity Investments. 

Cyrus Taraporevala succeeds O’Hanley as president and CEO of State Street Global Advisors. Taraporevala, who also joined SSGA from Fidelity Investments, will report to Hooley and join State Street’s management committee. Mike Rogers, who O’Hanley is succeeding as president and COO of State Street, will retire at the end of 2017. He joined State Street in 2007 following its acquisition of Investors Financial.

O’Hanley, Taraporevala and Rogers will work over the next two months on the transition of responsibilities.

As part of the transition, Andrew Erickson, currently head of State Street’s global services business for the Americas, will lead a newly formed global services business worldwide. 

Jeff Conway, currently CEO of State Street in Europe, Middle East and Africa (Emea), will take a new role leading State Street’s operations, infrastructure and business transformation globally.  Liz Nolan, currently co-head of global services for Emea, will succeed Conway as Emea CEO and report to O’Hanley. She will also join State Street’s management committee.

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