State Street Corporation announced on Tuesday the appointment of Yie-Hsin Hung as president and chief executive officer (CEO) of its asset management business, State Street Global Advisors. She will report to State Street Chairman and Chief Executive Officer Ron O’Hanley.
Hung take up the role in December 2022 and will join State Street’s Executive Committee. She replaces Cyrus Taraporevala, who is retiring.
State Street Chairman and CEO Ron O’Hanley, commented
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. 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.
Joining from New York Life Investment Management (NYLIM), Hung has served as CEO since 2015. During her tenure at the firm, she has led a multi-boutique, global investment management business that provides a broad range of fixed income, alternatives, equity and ESG capabilities. Additionally, Hung led NYLIM to achieve an almost four-fold increase in assets under management.
Prior to becoming an CEO at NYLIM, Hung held numerous senior executive roles such as co-president and chairman of NYLIM International. Before that, she held leadership positions at Bridgewater Associates and Morgan Stanley.
Yie-Hsin Hung said:
Yie-Hsin Hung
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. 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 included in Barron’s list of the 100 Most Influential Women in US Finance for a third time. Last year, she was also in by American Banker’s 25 Most Powerful Women in Finance for the fifth consecutive year.
Earlier in July, State Street announced the appointment of Brenda Tsai as its new executive vice president and global chief marketing officer.
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