Kevin Nee was named CEO of Covariance Capital Management, a subsidiary of TIAA-CREF that provides outsourced investment services, said company spokeswoman Daisy Okas.
The position is new.
Mr. Nee will be responsible for leading the business, including overseeing new business development and the day-to-day operations and finance. He will report to Ron Pressman, executive vice president and chief operating officer of TIAA-CREF.
Scott W. Wise, who has led Covariance as president and chief investment officer since its inception in 2011, will remain in those roles.
Mr. Nee was president of Wilshire Private Markets. Chief Investment Officer Karl Beinkampen will assume Mr. Nee's responsibilities, said Wilshire spokeswoman Lisa Herbert.Covariance managed approximately $1.33 billion for its clients at Sept. 30.