Edward Van Dolsen was named COO of TIAA-CREF, a new position, confirmed CEO Roger W. Ferguson Jr.
He will handle duties previously performed by Maliz Beams, executive vice president for client services, who has left the company, according to a TIAA-CREF news release. Efforts to reach Ms. Beams were unsuccessful.
“Under Maliz' leadership, we've grown our individual and institutional businesses significantly despite these challenging economic times,” Mr. Ferguson said in the news release.
Mr. Van Dolsen will oversee institutional and individual client services as well as sales and distribution and product function. Mr. Ferguson said in an interview that Mr. Van Dolsen's appointment was a way to streamline the firm, which had $426 billion in assets under management as of March 31.
“It makes priority-setting easier, speeds decision-making and reduces complexity,” Mr. Ferguson said. “This will be a more effective, efficient way to get the desired outcome of enhancing the delivery of services to our clients.”
Mr. Van Dolsen was executive vice president for product development and management. He will retain his previous duties.
Separately, Marvin Adams was named executive vice president for shared services, also a new position. His responsibilities include technology and operations, sourcing and other business process support functions that support services to TIAA-CREF clients, the news release said.
Mr. Adams was in charge of TIAA-CREF’s technology and operations functions since joining the firm in January from Fidelity Investments, where he was president of shared services. His duties at Fidelity were assumed by other executives, said Adam Banker, a Fidelity spokesman.
Bloomberg contributed to this story.