Thasunda Brown Duckett was named president and CEO by TIAA-CREF, effective May 1, a news release said Thursday.
Ms. Duckett currently is the CEO of Chase Consumer Banking, a division of J.P. Morgan Chase & Co. She will succeed Roger W. Ferguson Jr., who is delaying his planned retirement date of March 31 until Ms. Duckett has joined the firm. He will remain an adviser to TIAA, the news release said.
Ms. Duckett "brings invaluable experience leading and growing large, complex businesses, setting and executing strategy, improving client experience and attracting and developing talent. Equally important, she is deeply mission oriented, with values that reflect those of TIAA, including a passion for financial inclusion and empowerment," said Ronald L. Thompson, chairman of the TIAA board of trustees, in the release.
Ms. Duckett has been a "champion for change," the release said, noting that she was involved in initiatives that promoted racial and gender equality and inclusion while at J.P. Morgan Chase.
"Thasunda is the right person to lead TIAA at a time when its work has never been more important and when the challenges of fostering financial stability and inclusion have never been greater," Mr. Ferguson said in the release.
Also in the release Ms. Duckett said:, "I am extraordinarily grateful for the opportunity to lead a company that has helped millions of people retire with 'enough' to live in dignity and excited about the opportunity to help TIAA chart its next 100 years."
TIAA had $1.3 trillion in assets under management as of Dec. 31 by its Nuveen affiliates and TIAA investment management teams.