State Street Global Advisors has announced that Yie-Hsin Hung will join the asset manager in December as president and CEO.
Hung joins State Street Global Advisors from New York Life Investment Management, where she served as CEO since 2015.
Hung will succeed State Street Global Advisors CEO Cyrus Taraporevala, whose planned retirement was announced earlier this year. When Hung joins, Taraporevala will become an adviser to the firm and stay through early 2023 to provide a smooth transition of responsibilities.
Hung will report to State Street Chairman and CEO Ron O’Hanley and will join State Street’s executive committee.
At New York Life Investment Management, Hung led a multi-boutique, global investment management business. During her tenure there, Hung led the asset manager to achieve a nearly four-fold increase in assets under management. Prior to her position as CEO at 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,” said O’Hanley in a statement. “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.”
“It is a pivotal time in the asset management industry, and I look forward to building on the strong foundation at State Street Global Advisors to continue to drive growth and help prepare our clients for the future,” said Hung in the statement.