State Street

Heinel is the first female global chief investment officer at State Street Global Advisors, the world's fourth-largest asset manager.

Fogarty and her team are responsible for custody, reconciliations, derivatives, bank loans, middle-office, investment analytics, accounting and fund administration, alternative operations, and transfer agency activities for State Street.

Hung joined State Street Global Advisors in December 2022, following a 12 year stint at New York Life Investments, including 7 1/2 years as its CEO.

Milrod has led the bank's foray into digital finance and its efforts to become more product-driven.

The Boston-based custody bank will place deposits at Carver State Bank, Citizens Trust Bank and Ponce Bank as part of its broader effort to help reduce the wealth gap. State Street plans to place a total of $100 million of deposits at minority depository institutions this year.

Societe Generale has been seeking more than $1.1 billion for the business, according to the people, sources told Bloomberg News. 

The departures are occurring during a period of heightened U.S. political backlash against the environmental, social and governance investing strategy. Republican officials across the country have launched investigations into banks and asset managers, introduced anti-ESG laws and pulled funds from firms such as BlackRock, which championed sustainable investing.

Women focused on environmental, social and governance issues are seeing career opportunities open as sustainable finance initiatives become more critical to a bank's success.

When State Street announced plans to acquire Brown Brothers Harriman Investor Services last year, it turned to a trusted executive to oversee the integration: Donna Milrod, who was leading both State Street's Global Asset Managers segment and the Global Clients division.

In June 2021, Nadine Chakar, the three-decades long industry veteran, was appointed to lead State Street Digital, a new business division. The division is designed to help institutional investors, regulators, and State Street itself successfully transition into a modern digital economy.