October 1, 2014
TIAA – CREF, a dominating financial services provider, declared recently that it has successfully acquired Nuveen Investments, a diverse investment management firm.
“The closing of this transaction marks an exciting moment in TIAA – CREF’s 96-year history as a financial services firm committed to making a difference for those who make a difference in the world,” said Roger W. Ferguson Jr., president and chief executive officer of TIAA-CREF.
“The addition of Nuveen Investments to the TIAA-CREF family further strengthens our position as a leading provider of financial services by enhancing our ability to deliver strong financial performance and serve our clients for the next 100 years.”
“Our investment in Nuveen further strengthens and diversifies TIAA’s General Account, which serves as a foundation for the savings and lifetime income payments for millions of our participants,” said Robert G. Leary, executive vice president, TIAA-CREF and president of the company’s Asset Management business, which includes both TIAA-CREF Asset Management and Nuveen Investments.
“The complementary investment offerings and strong distribution network that Nuveen Investments brings to TIAA-CREF will allow us to offer our clients a broader range of expertise and investment options than ever before.”