Yie-Hsin Hung will join State Street Global Advisors as president and CEO replacing Cyrus Taraporevala, effective in December.
Ms. Hung will report to State Street Corp. Chairman and CEO Ron O'Hanley and will also join the parent company's executive committee, a news release said.
Mr. Taraporevala's planned retirement was announced earlier this year. He will become an adviser, remaining with the money manager through early 2023 to ensure a smooth transition of responsibilities.
"We are delighted to welcome Yie-Hsin to State Street. She is an industry veteran, who brings to Global Advisors her notable history of delivering growth," Mr. O'Hanley said in the release. "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."
SSGA has $3.48 trillion in assets under management.
Ms. Hung will join from New York Life Investment Management, where she had been CEO for the $450 billion multiboutique third-party money management firm since 2015. With Ms. Hung's departure, Alain Karaoglan, head of NYLIM's strategic businesses, will oversee New York Life Investments, a spokeswoman said.
"Alain is an industry leader who is well-suited for this role, having served as chief operating officer for Voya Financial before joining New York Life where he oversaw all of Voya's businesses, including its investment management and retirement businesses," she said.
