Hooley, who has served as CEO since March 2010, will remain in that office. Kennett Burnes will continue in his role as State Street’s independent lead director.
Burnes said State Street is pleased to appoint Jay as chairman of the firm. Since his appointment as CEO in March, Jay has made the difficult and strategic decisions that the firm’s board believes has set State Street on course for leadership and growth.
Since joining State Street in 1986, Hooley has held a number of leadership positions including head of the company’s US Mutual Fund sales organization, president and CEO of National Financial Data Services and president and chief executive officer of Boston Financial Data Services.
He returned to State Street in 2000 to manage its global investment servicing business and was named president and chief operating officer in 2008. Hooley was elected as a director in October 2010.
