World News – US – Roger Ferguson is retiring as TIAA President and CEO

0

. .

New York, November. 17, 2020 / PRNewswire / – said Roger W, TIAA, a leading provider of safe retirement solutions and results-focused investments to millions of people and thousands of organizations. Ferguson Jr.. , Intends to retire as President and CEO on March 31, 2021. Board of Directors of the company and Mr.. Ferguson believes this is the time to identify a successor who can own the TIAA strategy for years to come and work with the master. . Ferguson to ensure an effective leadership transition.

A subcommittee of the Board of Directors works with a leading executive search firm to identify and evaluate internal and external candidates to succeed the master. Ferguson.

“Roger has contributed significantly to TIAA’s success over the past 12 years through his vision and strategy to fulfill our mission of providing a lifetime income to millions of people working in higher education, healthcare, government and the arts,” Dr.. . Ronald L.. Thompson, Chair of the Board of Trustees. «  It has also greatly enhanced the capabilities we provide to these clients and the growth of our company through the acquisition of Nuveen, our investment manager, and TIAA Bank.. . My fellow board members and I are grateful for everything Roger has done to set TIAA to succeed over the next 100 years, and we sincerely thank him as he begins the next phase of his life..

“I spent a lot of time thinking about what would be best for TIAA and those we serve, not only during this year and next year, but for many, many years to come,” Mr.. Ferguson said. “As we look into a post-pandemic world, the next steps we take will be crucial to our long-term mission. I am fully convinced – and the Board agrees – that it is time to choose the next CEO who can continue our strategy, leverage and drive it for the next decade and beyond.. It is the responsible thing to do for this great company. I am forever grateful to my colleagues for living our values ​​over the past 12 years and years to come.

Mr.. Ferguson led TIAA during the 2008-2009 global financial crisis and moved early with the onset of the pandemic to implement remote work for 17,000 global employees.. Through these challenges, TIAA has continued to make payments to retirees, as it has done without interruption since the company was founded in 1918, while also maintaining strong financial health and investing for long-term growth to ensure continued resilience in all environments..

Under his leadership, TIAA added nearly 1 million new retirement clients, devised innovative and life-assured income solutions, and began providing financial wellness resources that help people navigate their financial lives and improve their outcomes.. TIAA has also been a major proponent of the SECURE Act to expand Americans’ access to tax-privileged retirement accounts and prevent them from overriding their assets..

The company also more than doubled its assets under management to more than $ 1 trillion to become one of the best asset managers in the world, acquiring and merging Nuveen and other investment subsidiaries and becoming recognized as a leader in environmental, social investment and corporate governance. It concluded its financial services platform with the purchase of the former EverBank, now TIAA Bank. These acquisitions directly supported TIAA’s mission by expanding capabilities and financial wellness resources available to clients and also helped diversify the company’s revenue sources..

Mr.. Ferguson has also been an avid advocate and intellectual leader of not-for-profit higher education, and has served on several committees, including the co-chair of the Academy of Arts and Sciences Commission on the Future of University Education. In keeping with TIAA’s rich legacy, he has been a proud champion of inclusion and diversity – within the company and for people everywhere.. I oversee the launch of business resource groups at TIAA that connect and unite diverse employees for talent development, networking, community outreach and philanthropy as well as serving our clients. He has campaigned notable for broad access to financial advisory and planning resources, and pushed corporate boards of directors to become more diverse and widely publicized about the impact of systemic racism on the economy, health and education.

Mr.. Ferguson joined TIAA as President and CEO in 2008, having previously served as Head of Financial Services for Swiss Re and Chairman of the America Holding Corporation, a global reinsurance company.. . Prior to working for Swiss Re, he was Vice President of the U Board of Governors. s. The Federal Reserve System, which he joined in 1997. Prior to that he was a partner at McKinsey &, where he worked from 1984 to 1997. the master. Ferguson began his career in 1981 as an attorney at Davis Polk & Wardwell.

With a proven track record [1] in consistent investment performance, TIAA (TIAA. org) is the leading provider of financial services in the academic, research, medical, cultural, and government fields. TIAA has $ 1. 2 trillion assets under management (as of 9/30/2020 [2]) offering a wide range of financial solutions, including investment, banking, advice, education, and retirement services..

[1] Refinitiv Lipper Fund Awards are based on the Lipper Leader for a Fixed Return Rating, a risk-adjusted performance metric calculated over 36, 60 and 120 months. The Ratings of the Lipper Leaders Fund do not constitute and are not intended to constitute investment advice, an offer to sell, or the solicitation of an offer to purchase any security of any entity in any jurisdiction.. For more information, see lipperfundawards. Com. Refinitiv Lipper Fund Awards, © 2020 Refinitiv. All rights reserved. Used under license. The award is based on a risk-adjusted performance review of 39 companies for 2016, 36 for 2017, 35 for & 2019 and 30 for 2020. The award is only for TIAA-CREF mutual funds in the hybrid asset category. Without such exemptions, the ratings could be lower. Past performance does not guarantee future results. For current performance, ratings, and releases, please visit TIAA. Deer.

[2] is based on approximately $ 1. 2 trillion assets under management across Nuveen subsidiaries and TIAA investment management teams as of 9/30/20.

TIAA-CREF Individual & Institutional Services, LLC, a member of FINRA, distributes stock products. Pension contracts and certificates are issued by TIAA and the College Retirement Equity Fund (CREF), New York, New York. Each of them is solely responsible for their financial situation and contractual obligations.

© 2020 and prior years, America’s Teachers and Pension Association Fund – Retirement Stock Fund, New York, NY 10017

Roger W.. Ferguson Jr.. , TIAA, Finance, CEO

World News – United States – Roger Ferguson retires as President and CEO of TIAA
Related Title :
Biden may be appointed Roger Ferguson To retire as CEO of TIAA Financial Corporation
Roger Ferguson retires as President and CEO of TIAA
TIAA-CREF President Ferguson Retires on March 31

Ref: https://www.prnewswire.com

Donnez votre avis et abonnez-vous pour plus d’infos

Vidéo du jour: