State Street BoDs appoints new chairman

Ridhima Sharma
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State Street BoDs appoints new chairman

State Street Corporation has announced that its board of directors has appointed Ronald P. O'Hanley, State Street's chief executive officer, as chairman, effective 1 January 2020, following Jay Hooley's planned retirement.

Hooley has served on the Board of Directors since 2009 and as chairman of the Board since 2011. Amelia Fawcett will continue in her role as State Street's independent lead director.

Amelia Fawcett said: "O'Hanley's appointment represents the culmination of the leadership transition implemented by the board over the past several years. Since becoming CEO in January, he has brought tremendous energy and results-oriented management focused on creating shareholder value."

O'Hanley joined State Street in 2015 as president and chief executive officer of State Street Global Advisors, the Company's investment management arm. He also served as State Street's president and chief operating officer, beginning in 2017, prior to his appointment as chief executive officer.