NEW YORK--(BUSINESS WIRE)--TIAA, a leading financial services provider, announced today the appointment of Lori Fouché as Senior Executive Vice President and CEO of Retail & Institutional Financial Services, effective August 7. Fouché will report directly to TIAA President and CEO Roger W. Ferguson, Jr., and will serve as a member of the company’s executive committee.
In this newly created position, Fouché will oversee the company’s institutional and individual client services groups. This integrated team will work together to meet the evolving needs of individual and institutional clients across the full range of financial services, while enhancing efficiency, reducing complexity and providing a more seamless customer experience. The combined business will help institutional clients manage and solve their financial challenges while also helping individual customers to pursue a lifetime of financial security through customized financial advice and a broad set of savings and investment options, including education savings, life insurance and banking services.
“We’ve made great progress building the capabilities we need to continue to serve the financial needs of our participants and clients for decades to come,” Ferguson said. “We are now well-positioned to fully leverage the breadth of our offerings and enhance our operational efficiency by combining our Retail and Institutional businesses. Lori is a financial services veteran with a strong track record, and her emphasis on innovation and creating customer-focused cultures will serve TIAA well as we integrate these two highly interdependent businesses together on behalf of our clients.”
Fouché is joining TIAA from Prudential Financial, where she was the Head of Individual Solutions and led financial advice, annuities, life insurance and other outcome-oriented solutions. During her five years at Prudential, she also served as CEO of Prudential Group Insurance and President of Prudential Annuities, which develops and distributes variable and fixed annuities. Prior to Prudential, Fouché served as President and CEO of Fireman’s Fund Insurance Company. She also spent several years in underwriting and product management, strategic marketing and other leadership roles at Chubb, where she launched new products for for-profit and not-for-profit customers.
“TIAA has a long history of putting its customers first, and I’m honored to join an organization with such an inspiring mission, strong values, and a legacy of dedicated service,” said Lori Fouché. “With this year being TIAA’s centennial, it is an exciting time in the evolution of the company as it focuses on the next hundred years of helping individuals and institutions achieve their financial goals. I look forward to working with such a high-caliber team as we embark on the next phase of TIAA’s future.”
Fouché’s appointment follows the retirement of Ron Pressman, CEO of Institutional Financial Services, and the decision by Kathie Andrade, CEO of Retail Financial Services, to pursue new opportunities. Both Pressman and Andrade have agreed to assist through a transition period.
“I want to thank both Kathie and Ron for their many contributions to TIAA and their strong commitment to our clients,” said Ferguson. “Under their leadership, we have strengthened our organization, expanded our range of services, enhanced our technology, and broadened our reach to help both institutions and individuals achieve their financial goals.”
Fouché earned her undergraduate degree from Princeton University and a Master of Business Administration from Harvard Business School. She serves on the boards of directors for My Brother’s Keeper Alliance and Girls Inc., and as a Trustee of Princeton University.
TIAA (www.tiaa.org) is a unique financial partner. With an award-winning track record for consistent performance1, TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has nearly $1 trillion in assets under management (as of 3/31/20182) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services.
1 The Lipper Large Fund Award is given to the group with the lowest average decile ranking of three years’ Consistent Return for eligible funds over the three-year period ended 11/30/12 (36 fund companies), 11/30/13 (48), 11/30/14 (48), 11/30/15 (37), 11/30/16 (34) and 11/30/17 (34) with at least five equity, five bond, or three mixed-asset portfolios. Note this award pertains to mutual funds within the TIAA-CREF group of mutual funds; other funds distributed by Nuveen Securities were not included. From Thomson Reuters Lipper Awards, © 2018 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited. Past performance does not guarantee future results. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. For current performance, rankings and prospectuses, please visit the Research and Performance section on TIAA.org. Securities offered through Nuveen, LLC, and TIAA-CREF Individual & Institutional Services, LLC, members FINRA and SIPC.
2 Based on assets under management across Nuveen Investments affiliates and TIAA investment management teams as of 3/31/18.
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
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