NEW YORK, Sept. 1, 2021 /PRNewswire/ -- TIAA, a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions, appointed Derek Ferguson as Chief Administrative Officer.
Ferguson joins on October 4 from Robin Hood Foundation, New York's largest poverty fighting organization, where he is interim Chief Executive Officer & Chief Operating Officer. As CAO, a new role at TIAA, Ferguson and his team will be responsible for leading the evolution of the company's strategy, planning and delivering strategic initiatives and overseeing the operations of the office of the CEO. Based in New York, he will report to TIAA President and CEO Thasunda Brown Duckett and join the company's Executive Committee.
"I am excited and grateful to have Derek take on an important new role that will greatly enhance how we serve our clients and also elevate our colleagues' experience by driving seamless collaboration across teams and functions," said Duckett. "He is a dynamic, entrepreneurial leader whose diverse experiences will bring welcome, fresh perspectives to our mission-driven company."
Before joining Robin Hood Foundation, Ferguson was Chief Growth Officer and CFO of Combs Enterprises, where he managed various business ventures and brands on behalf of entertainment artist and entrepreneur Sean "Diddy" Combs. He also served as COO at Revolt Media & TV, a television broadcasting company founded by Combs. Earlier, he was VP of Finance and Operations for BMG Special Products, a division of BMG Entertainment. Before that he counseled consumer products companies and retailers on strategy at Bain & Company.
"TIAA's rich heritage and outcome focus are profoundly important to the financial well-being of millions, and I am proud to bring my diverse experiences to help TIAA build on its unique opportunity to serve educators, healthcare professionals and others whose own work matters so much to all of us," Ferguson said.
Ferguson also serves on the board of the New York Covenant Development Corporation, Robin Hood Foundation, Revolt Media & TV and is chairman of the board of Capital Prep Schools. He received his bachelor's degree in economics from the Wharton School at the University of Pennsylvania and holds an MBA from Harvard University.
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 $3.6 billion to retired clients in 2020 and has $1.3 trillion in assets under management (as of 6/30/2021)2.
1 Based on data from 56 providers in PLANSPONSOR magazine's 2019 DC Recordkeeping Survey, combined 457, 403(b) and money purchase plan data as of December 31, 2018. 2 Based on approximately $1.3 trillion of assets under management across Nuveen affiliates and TIAA investment management teams as of 6/30/2021.
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations.