SSgA Appoints CEO Successor, Ex-Fidelity Investments
The revolving door continues to spin in the world of asset management chiefs. State Street Global Advisors (SSgA) appointed Ronald O’Hanley III as president and CEO – effective April 1, 2015. O’Hanley replaces incumbent CEO Scott Powers who is retiring from SSgA later in 2015. Powers joined SSgA in 2008. Powers is also the former CEO of Old Mutual Asset Management US. SWFI analysts predict Powers is not finished in the world of asset management. Under his leadership at SSgA, exchange-traded fund (ETF) assets under management grew by 85%. In addition, multi-asset solutions in AUM have grown almost 50% under his tenure.
O’Hanley will report to State Street CEO and Chairman Jay Hooley. He will also join the company’s Management Committee.
In February 2014, O’Hanley left family-owned Fidelity Investments where he served as president of asset management and corporate services. O’Hanley is the former president and CEO of BNY Mellon Asset Management. He spent 13 years in leadership roles at Mellon Bank and Bank of New York Mellon. Before the merger of Mellon Bank and The Bank of New York, O’Hanley was president and CEO of Mellon Asset Management.
Tenure at Fidelity
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