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Tuesday, June 23, 2015

Is O'Hanley Grooming the Next SSgA Chief?

News summary by MFWire's editors

Ron O'Hanley just handed off one of his new hats at State Street Global Advisors (SSgA [profile]) to a 20-year company veteran. And given the age difference, perhaps O'Hanley is grooming his eventual successor.

Gregory A. Ehret
State Street Global Advisors
President
Yesterday O'Hanley, 58, revealed the promotion of Greg Ehret, 45, to president of Boston-based SSgA. Pensions & Investments and Reuters picked up on the news.

Jay Hooley, chairman and CEO of all of State Street, brought O'Hanley on board less than three months ago as president and CEO of SSgA, succeeding Scott Powers. With yesterday's promotion of Ehret, O'Hanley will remain CEO of SSgA, while Ehret will rise to president.

"What has been obvious to me since I arrived at SSgA is the respect that Greg has across all levels of the organization, the passion with which he approaches what he does and the commitment he has to our clients," O'Hanley states.

Ehret is a mutual fund business type, not a PM, who has worked in operations, product development, and sales at SSgA. At one point he was co-head of its giant ETF business, and he also led SSgA's Europe, Middle East, and Africa (EMEA) business for four years. He most recently served as executive vice president and chief operating officer of SSgA. In his new role he will continue to report to O'Hanley, and P&I reports that the COO job at SSgA is being eliminated. 

Edited by: Neil Anderson, Managing Editor


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