TIAA Global Business Services India appoints Oindrila Majumdar as new CEO

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Jayant Patwardhan to become Executive Chairman

MUMBAI, India, Sept. 22, 2022 /PRNewswire/ -- TIAA Global Business Services (GBS) India, the Global Capability Center of TIAA, a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions, appointed Oindrila Majumdar as the new Chief Executive Officer, effective Monday, Oct. 3. She will report to Sastry Durvasula, Chief Information and Client Services Officer at TIAA.

TIAA is accelerating its strategy to lead in lifetime income, delight its clients and strengthen how the firm operates, with digital-first, cloud-first and enterprise-wide shared services. Since its inception six years ago, TIAA GBS India has played a vital role within the broader TIAA organization and has delivered exceptional performance with highest level of operational excellence. With over 2,700 associates based in Mumbai and Pune, TIAA's India arm continues to play an integral part of the global capabilities strategy as they build technology, client services and enterprise-wide shared services across the businesses and corporate functions. This includes the recent new office opening in Mumbai and planned expansion of the Pune campuses.

Majumdar joined TIAA GBS India in 2018 and since then, has played an instrumental role in leading key client services and technology roles across Retirement Services and Nuveen Asset Management businesses. She has been serving as the campus head in Pune and chairing TIAA GBS India's corporate social responsibility operating committee to deliver impact in the local communities. She brings more than 25 years of experience, working at organizations including Deutsche Bank, where she spent 10+ years in leadership roles, Fidelity Investments and Standard Chartered Bank.

"Throughout my time at TIAA GBS India, I have been humbled by the commitment of our associates and their passion for helping clients achieve their goals," said Oindrila. "I am excited to work with my colleagues across the globe to continue to deliver excellence and advance our talent pipeline for the future."

Former CEO Jayant Patwardhan will become the Executive Chairman of TIAA GBS India. Since joining the organization in 2016, he helped grow it from a three-member team to a fully staffed capability center. His empathetic and decisive leadership was critical in navigating the pandemic and TIAA GBS India earned the "Great Places To Work" recognition by GPTW this year.

"It's an exciting time at TIAA," said Sastry Durvasula, Chief Information and Client Services Officer. "Jayant has built a strong foundation for the future and I am confident of Oindrila's leadership, clarity of purpose and energy in taking TIAA GBS India into the next phase of strategic growth and elevated global capabilities."

About TIAA GBS India:

TIAA Global Business Services (GBS) India delivers high-quality global technology, operations and shared services to TIAA's businesses and associates. Associates at TIAA GBS India work closely with colleagues in the U.S. and around the world to meet the needs of its ever-growing client base.

About TIAA

TIAA is a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions. It is the #1 not-for-profit retirement market provider¹, paid more than $6.4 billion in lifetime income to retired clients in 2021 and has $1.2 trillion in assets under management (as of 6/30/2022)².

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1. As of July 21, 2022. Based on data in PLANSPONSOR's 403(b) 2022 DC Recordkeeping Survey, combined 457 and 403(b) data.
2. As of June 30, 2022 assets under management across Nuveen Investments affiliates and TIAA investment management teams are $1,222 billion.

©2022 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017

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