State Street Appoints Yie-Hsin Hung as President & CEO of Global Advisors

State Street Corporation announced that it has appointed Yie-Hsin Hung as president and chief executive officer (CEO) of State Street Global Advisors (Global Advisors), its asset management business.

Hung succeeds Cyrus Taraporevala, whose planned retirement was announced earlier this year. She will join Global Advisors in December 2022, reporting to State Street Chairman and Chief Executive Officer Ron O'Hanley and will join State Street's Executive Committee.

Hung joins Global Advisors from New York Life Investment Management (NYLIM), where she served as chief executive officer since 2015. While at NYLIM, Yie-Hsin led a multi-boutique, global investment management business that provides a broad range of fixed income, alternatives, equity and ESG capabilities.

During her tenure at the firm, Hung led NYLIM to achieve a nearly four-fold increase in assets under management. Prior to assuming the role of CEO of NYLIM, Hung held numerous senior executive roles including co-president and chairman of NYLIM International. Before joining NYLIM, she held leadership positions at Bridgewater Associates and Morgan Stanley.

"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," said O'Hanley. "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."

"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," said Hung. "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."