Asset Management

State Street asset management boss says anti-ESG backlash has been ‘challenging’

Yie-Hsin Hung joins BlackRock's Larry Fink in lamenting politicisation of ESG investing in the US

As a fiduciary manager, Yie-Hsin Hung said State Street’s products were designed to provide choice and 'satisfy whatever investors’ interests are'
As a fiduciary manager, Yie-Hsin Hung said State Street’s products were designed to provide choice and 'satisfy whatever investors’ interests are' Photo: Jeenah Moon/Getty Images

State Street’s asset management boss admits navigating the anti-ESG backlash, which has reached a fever pitch in the US, has been “challenging”.

Speaking to Financial News on the sidelines of the World Economic Forum, Yie-Hsin Hung — who joined the $3.3tn passives giant from New York Life Investment Management a month ago — said rhetoric from Republican politicians has been effective in politicising ESG investing in the US.

WSJ Logo
Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump