State Street Names Brad Hu as Chief Risk Officer

State Street, one of the world's leading providers of financial services to institutional investors, announced that it has appointed Brad Hu as its Chief Risk Officer. According to the announcement, the appointment will be effective from January 1, 2022.

Hu will succeed Andrew Kuritzkes, who is retiring from State Street, and join the company in November as a member of its Executive Committee for a transition period with Kuritzkes.

Hu brings extensive experience in the financial services sector to the company. He previously the chief risk officer at Citigroup for eight years, where he was credited with significantly reducing the firm’s risk profile while guiding it through significant geopolitical and economic disruptions.

Before that, he served as chief risk officer for Citi Asia Pacific, where he was responsible for managing the firm's risks across all of Citi’s businesses in the region’s 17 markets, including consumer banking, corporate and investment banking, securities and trading, and private banking.

In addition, Hu also worked at Morgan Stanley for more than 20 years, where he held a number of senior leadership roles across the Global Equity, Global Capital Markets and Investment Banking divisions.

“With more than three decades of financial services experience, Brad brings a global risk expertise and approach to help us continue to execute against our strategic priorities,” said Ron O’Hanley, chairman and chief executive officer of State Street. “Brad’s deep experience across asset classes, risk categories, complex financial instruments and diverse markets will drive significant impact across all of our constituencies.”

Last week, State Street has published its financial results for the third quarter of 2021​, which ended on September 30, reporting a healthy year-over-year surge of 9 percent in total fee revenue.