State Street Corporation has today announced that its board of directors has appointed Chief Executive Officer Ronald P (Ron) O’Hanley as Chairman, effective January 1, 2020, following Jay Hooley’s planned retirement. Hooley has served on the board since 2009 and as Chairman since 2011. Amelia Fawcett will continue in her role as State Street’s independent Lead Director.

“We are pleased to name Ron as Chairman,” said Fawcett. “Ron’s appointment represents the culmination of the leadership transition implemented by the board over the past several years. Since becoming CEO in January, Ron has brought tremendous energy and results-oriented management focused on creating shareholder value. On behalf of the Board of Directors, I want to thank Jay for his long and distinguished career at State Street and for guiding a successful leadership transition.”

Greg Summe, Chairman of State Street’s Nominating and Corporate Governance Committee, added: “The board considered carefully the issue of governance. The board has a Lead Director role similar to an independent Chairman, overseeing board and committee agendas, attending all committee meetings and working closely with the CEO. Based on its experience, the board determined to continue with its current Lead Director/Chairman structure.”

O’Hanley joined State Street in 2015 as President and CEO 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.

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State Street Corporation has today announced that its board of directors has appointed Chief Executive Officer Ronald P (Ron) O’Hanley as Chairman, effective January 1, 2020, following Jay Hooley’s planned retirement. Hooley has served on the board since 2009 and as Chairman since 2011. Amelia Fawcett will continue in her role as State Street’s independent Lead Director.

“We are pleased to name Ron as Chairman,” said Fawcett. “Ron’s appointment represents the culmination of the leadership transition implemented by the board over the past several years. Since becoming CEO in January, Ron has brought tremendous energy and results-oriented management focused on creating shareholder value. On behalf of the Board of Directors, I want to thank Jay for his long and distinguished career at State Street and for guiding a successful leadership transition.”

Greg Summe, Chairman of State Street’s Nominating and Corporate Governance Committee, added: “The board considered carefully the issue of governance. The board has a Lead Director role similar to an independent Chairman, overseeing board and committee agendas, attending all committee meetings and working closely with the CEO. Based on its experience, the board determined to continue with its current Lead Director/Chairman structure.”

O’Hanley joined State Street in 2015 as President and CEO 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.