State Street Global Advisors (SSGA), one of the world’s largest asset managers, announced today the appointment of Karen Wong to the newly created position of Global Head of Environmental, Social and Governance (ESG) and Sustainable Investing.
The appointment was unveiled along with the announced retirement later this year of Lynn Blake, Chief Investment Officer, Global Equity Beta Solutions (GEBS), and her succession by John Tucker. According to SSGA, Blake has been a key player in growing the firm’s ESG and asset stewardship capabilities, and she currently oversees SSGA’s Asset Stewardship team, Company Stock Group, and GEBS’ model creation and research efforts.
With the creation of the new Global Head of ESG and Sustainable Investing position, SSGA will bring together the distinct functions across the firm that support ESG, including ESG investment strategy, ESG integration, and asset stewardship, with these areas reporting to Wong.
Prior to joining SSGA, Wong worked for Mellon Investments Corporation, most recently serving as Managing Director, Head of Index Portfolio Management, where she oversaw equity and fixed income index and beta strategies, including exchange-traded funds. She also held the role of ESG Champion, collaborating with various functions across the company to drive firm-wide ESG integration, and developing ESG positioning and a framework including the creation of ESG Committee at Mellon Capital.
Cyrus Taraporevala, President and Chief Executive Officer of State Street Global Advisors, said:
“I thank Lynn for her tremendous leadership and contributions over the years, and wish her every happiness in her retirement. We are fortunate to have John Tucker, who has built his career with State Street, so well-positioned to take the reins. We are also pleased to welcome Karen Wong, who will do a tremendous job bringing together and expanding the market-leading ESG capabilities we’ve built over the years.”
Lori Heinel, Global Chief Investment Officer of State Street Global Advisors, added:
“As we say farewell to our valued colleague Lynn, we feel confident that we have two exceptional leaders to take forward the great work Lynn has done, both in GEBS overall, and with our ESG and stewardship programs. John has a strong grasp on the processes and people of GEBS, including risk management, trading, and execution. And I am excited to have Karen join us to lead a newly integrated ESG function, bringing together asset stewardship, ESG integration, and ESG investment strategy.”