Nuveen Appoints Seasoned Retirement Plan Professionals to Support DCIO Business Growth

NEW YORK--()--Nuveen, a leading global investment manager, appointed several key executives to positions supporting its expanding Defined Contribution Investment Only (DCIO) enterprise. The move builds on the firm’s second consecutive year of growth since re-positioning its DCIO business in 2015.

Demand for our retirement plan investment solutions has been robust with our active and index target date strategies seeing particularly high levels of inflows as a result of their competitive performance, strong showing in industry rankings and relatively low costs. Our DCIO business grew nearly 40% in 2017 which is a testament to the competitive offering we have for plan sponsors, consultants and advisors,” said Erin Donnelly, executive vice president and head of Nuveen’s DCIO business. “Our success in this business segment has certainly been an advantage in attracting top talent to support our plans to continue growing in this business in the year ahead.”

Additions to Nuveen’s DCIO team include:

  • Peter Whitman joined the firm as managing director responsible for DCIO Strategic Accounts reporting directly to Ms. Donnelly. He will oversee the firm’s retirement presence across recordkeeping, retirement intermediary and other third-party retirement platforms and relationships. Mr. Whitman will also focus on building Nuveen’s retirement sub-advisory business.
  • Greg Koleno joined the DCIO sales team reporting to Brendan McCarthy, DCIO National Sales Director, and is based in Portland, Oregon. Mr. Koleno is responsible for DCIO sales in the Northwest. Previously, Mr. Koleno was vice president for DCIO sales covering the Pacific Northwest for American Century Investments.
  • James Polito joined the DCIO sales team, also reporting to Mr. McCarthy, and is based in Charlotte, North Carolina. Mr. Polito is responsible for DCIO sales in the Southeast. Most recently, Mr. Polito was vice president and retirement consultant for DCIO sales with BNY Mellon covering the southeastern United States.

Complementing the new DCIO team hires, Nuveen hired Jeff Eng as managing director responsible for retirement solutions reporting to Martin Kremenstein, senior managing director and head of Nuveen’s retirement and ETF solutions business. In this role, Mr. Eng supports the firm’s retirement businesses by leading new product initiatives. Mr. Eng joins the firm from AB, where he was head of their custom defined contribution solutions business.

Nuveen is the fourth largest investment manager of defined contribution assets in the United States1 and the sixth largest manager of target date fund assets2. Its DCIO team works in consultation with plan sponsors, consultants and retirement plan advisors to evaluate the investment menus of retirement plans and identify ways to improve outcomes for plan participants.

Through Nuveen’s investment affiliates, the DCIO team delivers a wide range of competitive fixed income and equity mutual funds and a diversified suite of environmental, social and governance (ESG) equity and fixed income funds, including the TIAA-CREF Social Choice Bond Fund (TSBIX). The team also offers the firm’s industry-leading3 active and passive target date funds such as TIAA-CREF Lifecycle 2040 (TCIOX) and TIAA-CREF Lifecycle Index 2040 (TIZLX), asset allocation strategies that can act as the qualified default investment alternative (QDIA) of defined contribution plans.

About Nuveen

Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $970 billion in assets under management as of 12/31/17 and operations in 16 countries. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.

1. Pensions & Investments, May 29, 2017. Rankings based on institutional tax-exempt assets under management as of December 31, 2016 reported by each responding asset manager.

2. Morningstar, Inc. 2017 Target-Date Fund Landscape report. Data as of 12/31/16 based on target-date total assets.

3. Thomson Reuters Lipper Fund Award 2016-2017 Best Mixed Assets Large Fund, based on a review of 39 companies' 2015 and 36 companies' 2016 risk-adjusted performance.

Investing involves risk; principal loss is possible. There is no guarantee the Fund’s investment objectives will be achieved.

Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus or summary prospectus from Nuveen at 800.752.8700 or visit www.nuveen.com.

The investment advisory services, strategies and expertise of TIAA Investments, a division of Nuveen, are provided by Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC. Securities offered through Nuveen Securities, LLC member FINRA and SIPC.

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Contacts

Nuveen
Mary Ellen Higgins
781.789.1911
maryellen.higgins@nuveen.com

Contacts

Nuveen
Mary Ellen Higgins
781.789.1911
maryellen.higgins@nuveen.com