State Street announced that Scott Powers has been named to be president and chief executive officer of State Street Global Advisors (SSgA), the company’s investment management arm. Powers will join SSgA from Old Mutual US, the US operating unit of London-based Old Mutual, where he has served as chief executive officer and one of six senior executives overseeing its worldwide operations.
Powers will report to Ronald E. Logue, chairman and chief executive officer of State Street, and will join the company’s operating group, State Street’s senior-most strategy and policy-making team. He will succeed James S. Phalen, who has served as interim president and CEO of SSgA since January 2008. Phalen will return to his position as head of international operations for State Street’s investment servicing and investment research and trading businesses. -Business Wire
