Teachers Insurance and Annuity Association of America (TIAA) has named JP Morgan Chase executive, Thasunda Brown Duckett, as its new CEO, effective May 1st. Duckett is known to be one of the most prominent black executives on Wall Street currently serving as CEO of Chase Consumer Banking. She will be succeeding Roger Ferguson who has served as CEO of TIAA for 13 years.
"Thasunda is widely recognized as an exceptionally dynamic and inspirational leader," said Ronald L. Thompson, Chairman of the TIAA Board of Trustees in a press release. "She 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."
Duckett has long been an advocate for closing the wealth gap between Black and white Americans and has focused on building purpose-driven change campaigns throughout her career. She sat in the steering committee for Chase bank’s Women on the Move initiative and led a fellowship initiative that offered academic and social support to men of colour.
"Thasunda's dedication to putting people first – clients and colleagues – ensures that TIAA will continue to create lifetime income for millions of people working in higher education, healthcare, government, the arts and other nonprofit sectors," said James R. Chambers, Chairman Elect of the Board who also served as Chair of the CEO search committee in a press release. "My fellow board members and I look forward to working with her and her leadership team to further enhance our ability to serve our clients, our communities and our people."
