State Street Corporation CEO Change and Impact

State Street Corporation has had a few notable CEOs in its history, but none as significant as Ronald O'Hanley, who took over in 2016. He brought with him a wealth of experience in the financial industry.

One of the key changes O'Hanley implemented was a shift towards digital transformation, which has had a lasting impact on the company. This move helped State Street stay competitive in the rapidly evolving financial landscape.

O'Hanley's leadership also led to the acquisition of several companies, including Charles River Development and SimCorp, expanding State Street's capabilities and customer base.

Ronald P. O'Hanley is the president and CEO of State Street Corporation, a position he has held since joining the company in 2015.

He previously served as president of asset management and corporate services for Fidelity Investments, a role he held from 2010 to 2014.

O'Hanley's experience in the financial industry dates back to 1986 when he joined McKinsey & Company, Inc., where he was elected a partner in 1992.

As a partner at McKinsey, he founded the investment management practice worldwide and co-founded and co-led the firm's North American personal financial services practice.

He received his bachelor of arts degree in political science from Syracuse University in 1980 and his MBA from the Harvard University Graduate School of Business in 1986.

O'Hanley has served on several boards, including Unum Corp, Rhode Island Commerce Corp, and The Boston Foundation, reflecting his interests in corporate governance, education, and philanthropy.

State Street Corporation is undergoing a significant leadership change. Ronald E. Logue, the current CEO, will retire on March 1.

Logue has been with State Street for almost two decades and has worked tirelessly to drive the company's global expansion. He will continue to serve as non-executive chairman of the board of directors until January 1, 2011.

Jay Hooley, the company's president and chief operating officer, will take over as CEO on March 1. Hooley has been with State Street since 1986 and has a deep understanding of the company's operations.

Logue's tenure as CEO has been marked by multiple acquisitions and increased international presence. Despite significant challenges, he has successfully positioned State Street as a market leader across its core businesses.