SSgA's Number Two Takes Over a $78B Shop
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Thursday, December 03, 2015

SSgA's Number Two Takes Over a $78B Shop

The number two executive at State Street Global Advisors (SSgA [profile]) just took over a $77.6-billion AUM asset manager.

Gregory A. Ehret
State Street Global Advisors
John Thornton, chairman of PineBridge Investments [profile], confirms that Greg Ehret will take over as CEO of the New York City-based shop on January 25. Ehret succeeds interim CEO Stephen Fitzgerald, who will continue to serve as deputy chairman of PineBridge. Fitzgerald stepped in back in March when then-CEO David Jiang resigned.

A 20-year SSgA veteran, Ehret rose to president this summer, sitting at the right hand of SSgA CEO Ron O'Hanley (who joined three months earlier). SSgA spokeswoman Anne McNally notes that O'Hanley has a "strong and long-tenured management team" at SSgA.

"Ron O'Hanley, our CEO, is going to reassume the role of president," McNally tells MFWire.

As for PineBridge, Thornton praises Ehret as "an industry veteran with an impressive track record of growing a global business across both developed and emerging markets."

"With its strong footprint in key markets across the globe, I am excited to engage with PineBridge's investment groups," Ehret states. "I am honored to lead such a distinguished team."

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