What Impact Will Leadership Changes at SSGA Have?
Will Taraporevala pick up where O’Hanley left off?
State Street Global Advisors announced that Cyrus Taraporevala is replacing Ron O'Hanley as SSGA's president and CEO effective immediately. In a letter announcing the leadership change to SSGA clients, Taraporevala indicated that he's fully committed to SSGA's strategic direction and does not envisage driving any radical shift in strategy.
Under O'Hanley's tenure, SSGA has taken steps to focus its product development, reduce fees on select funds, and double its risk management and sales personnel. These initiatives keep SSGA is on the right track, but it's too early to tell if Taraporevala can seamlessly transition to lead SSGA down the path that O'Hanley set.