Kristi Mitchem was named president, CEO and head of Wells Fargo Asset Management, spokesman John Roehm said.
Ms. Mitchem replaces Michael J. Niedermeyer, who retired last month.
Effective June 1, Ms. Mitchem will lead a business with more than $480 billion in assets under management. She will be based in San Francisco and report to David Carroll, senior executive vice president and head of Wells Fargo's wealth and investment management group.
Ms. Mitchem was executive vice president and head of the Americas institutional client group at State Street Global Advisors. She will be replaced by Barry Smith, current chief operating officer for the Americas institutional client group and head of SSgA’s global cash business, said company spokesman Brendan Paul. Before joining SSgA, Ms. Mitchem was a managing director and head of the U.S. defined contribution business at BlackRock.