Timothy B. Harbert, CEO of State Street Global Advisors, died of a heart attack at his home Tuesday night, according to a news release from SSgA. Mr. Harbert, 53, joined the firm in 1987 and had been CEO since 2001. Alan Brown, CIO, and Peter Leahy, COO, were named interim co-CEOs and will report directly to Ron Logue, chairman and CEO of parent State Street Corp.
Mr. Harbert's "passion and energy were a driving force in the success of State Street Global Advisors," Mr. Logue said in a statement Wednesday. He said the company "lost a friend and colleague," and the firm's thoughts and prayers are with Mr. Harbert's family.
Visitation for Mr. Harbert will be 4 p.m. to 8 p.m. EDT Friday at Campbell Funeral Home, Beverly, Mass.; funeral services will be 11 a.m. EDT Saturday at St. Richard Church, Danvers, Mass.