<p>The Teachers Insurance and Annuity Association of America announced on Tuesday that Roger Ferguson, the financial manager’s longtime CEO, will retire in March.
Ferguson, one of Wall Street‘s most prominent black executives, led TIAA for a dozen years, leading the company through the 2008-09 financial crisis and expanding its reach through multi-billion acquisitions. of dollars. Former vice chairman of the U.S. Federal Reserve, Ferguson has emerged as a top contender for a ministerial role in the Biden administration, the Wall Street Journal reported.
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“I am absolutely convinced – and the board agrees – that the time has come to select the next CEO who can continue, improve and drive our strategy for the next decade and beyond,” Ferguson said in a statement. “It‘s the responsible thing to do for this great company.”
An extended version of this story appears on WSJ.com.
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