Thasunda Brown Duckett is President and Chief Executive Officer of TIAA, a leading provider of secure retirements and outcome-focused investment solutions for millions of people and thousands of institutions. Nearly 30% of the new branches are destined for lower-income communities of need, in areas banks have traditionally left to alternative, sometimes predatory financial services that may worsen the path out of poverty for the underbanked. In September 2016, Duckett was named to replace Sommers. Duckett grew up in Texas and lives in Connecticut with her family. Duckett took the offer and within two years was leading the banks mortgage division. She challenged us to say its great to be profitable and great to be successful, but being successful comes in a lot of shapes and sizes, Deegan says. From an early age, Thasunda Brown Duckett's father taught her to shoot for the moon because even if she missed, she would be amongst the stars. Duckett's dad worked at a Xerox warehouse in New Jersey before losing his job and moving the family to Texas, she says. Playlists. 100+ collections of TED Talks, for curious minds. Her team is in the midst of a five-year plan to add 400 branches in 20 new markets and is now prioritizing physical distancing in light of COVID-19. I draw a lot of inspiration to those shoulders that Im on.. "When you know what it's like to look in the refrigerator and just see baking soda, or know what it's like to have your lights turned off, personal finance is important," says Duckett. Ms. Duckett is chair of the Otis and Rosie Brown Foundation and a member of the Board of Directors of the Childrens Learning Center of Fairfax County. Its all through the lens of her life experience. It was not because you are not capable of building wealth.. Klicka p Avvisa alla om du inte vill att vi och vra partner ska anvnda cookies och personuppgifter fr dessa ytterligare ndaml. Duckett grew up in a family that faced economic challenges. The initiative is marshaling resources to promote apprenticeships and post-graduation roles at Chase for black students education opportunities, as well as professional development programs for younger African-American executives recruited through the banks established Advancing Black Leaders program. She was the first female student regent. You know its going to be a C-section and Ill be out for three months, right? And they said, Youre planning on coming back, right?. She also is ranked 10th on Fortune's . Last updated: 13 September 2022 at 5:02pm EST. Thasunda Brown Duckett joined TIAA in 2021 as President and Executive Officer and is estimated to be receiving an annual salary of $20 million. Consumer and commercial deposit and lending products and services are provided by TIAA Bank, a division of TIAA, FSB. Musical artist and actor Saweetie has teamed up with her grandmother Roxane Harper to establish the Icy Baby Foundation, a nonprofit that teaches financial literacy to Black and Brown youth. Prior to her current role, Duckett, who has a bachelor's degree from the University of Houston and an MBA from the Hankamer School of Business atBaylor University, was the CEO of Chase Auto Finance, SVP for emerging markets and affordable lending, and SVP in home lending. The Harlem event captured the attention of influencers, including reality TV star Angela Simmons (right). When I think about who influences me, and I talk about this publicly, it is the janitors and the cooks and the secretaries who look like me who first entered corporate America that over time allowed me to exist. She knows the experience, and consequences, of financial unawareness. Duckett is a leading voice among bankers in the need to close the wealth gap between white and Black Americans By Justin Baer Updated Feb. 25, 2021 11:10 am ET In 2018, Duckett was named one of the most powerful women in banking by American Banker magazine. Accord to CNN, there have only been 19 Black CEOs of . I could see she was a talented businessperson and people like to follow her.. She later moved to Texas with her parents, where she graduated from Sam Houston High School. Thasunda Brown Duckett (born July 22, 1973) is an American businesswoman who serves as the president and chief executive officer (CEO) of TIAA. Her rapid ascent paved the way for another big promotion in 2013, when she became head of the auto finance division. She also belongs to the Executive Leadership Council, Delta Sigma Theta Sorority, Inc. and Jack and Jill of America Inc. NEW YORK, December 21, 2021 - TIAA, a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions, released its first Climate Report outlining the company's governance and business objectives in pursuit of achieving net zero carbon emissions and managing climate risk throughout the company. As an undergraduate student at the University of Houston, she landed an internship with the mortgage loan company Fannie Mae. Before stepping into her current role in 2016, she worked as the CEO of Chase Auto Finance, SVP for emerging markets and affordable lending, and SVP of home lending. Own Your Purpose (with Thasunda Brown Duckett) - Episode 15 of Professional Troublemaker. She is a frequent voice and face for the bank in television appearances and the news media. Financial services giant TIAA has named Thasunda Brown Duckett to succeed Roger W. Ferguson Jr. as CEO. When Thasunda Brown Duckett took over as president and CEO of financial-services firm TIAA in May 2021, she became just the fourth Black woman to ever lead a Fortune 500 company. She shares her story often in public settings, hoping to spark conversations on change she wants to see in her industry and to encourage successes in the communities that need more opportunity and investment. Duckett and Michelle Ebanks, the chief executive of Essence Communications, share a hug at a June event designed to promote JPMorgan's Currency Conversations project. She packed up and moved East. The way we earn the trust is well open up our doors.. Duckett spearheaded Chases National Savings campaign, complete with new tools, products, and thought leadership to promote financial health for all consumers. At Chase, Duckett managed a banking network with more than $600 billion in deposits across 4,900 branches with more than 40,000 employees. TIAA Bank's client service is available 7 days a week, so you can rest assured that well be around when you need us. Powered and implemented by Interactive Data Managed Solutions. [2], On May 1, 2021, she became the CEO of the Teachers Insurance and Annuity Association of America (TIAA), making her the fourth Black woman in history to serve as a Fortune 500 CEO,[4] and one of two female Black American CEOs to then lead a Fortune 500 company. She founded the Otis and Rosie Brown Foundation in honor of her parents to recognize and reward people who use ordinary means to empower and uplift their community in extraordinary ways. The bridge to racial equity starts with financial health Thasunda Brown Duckett President & CEO at TIAA Published Feb 18, 2021 + Follow Over the past year, I've had many conversations with my. Automotive: Thasunda Duckett, 41, CEO, Chase Auto Finance. ", Check out:Walgreens new CEO Roz Brewer on bias in the C-suite: When youre a Black woman, you get mistaken a lot, Don't miss:The best credit cards for building credit of 2021, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. She cares about vulnerable populations, and elderly populations, both the banked and unbanked, said Kaalund, who was a member of Chases corporate and investment bank at the time. I want my kids to visit every continent before they graduate from high school, she says. The first thing out of my mouth was, You know Im pregnant, right? she said. There is so much fear, especially in the black community when it comes to banks and other industries, she says. Thasunda Duckett is now in the house! Smith says in his clipped British accent. It aligns with my purpose in life to inspire others. Mrs. Thasunda Brown-Duckett will discuss her pathway to becoming an advocate for diversity and inclusion and her experiences as one of only two Black female CEOs in the U.S. leading a Fortune 500 company. Over the last 19 years, insiders at Nike have traded over $3,545,556,127 worth of Nike stock and bought 36,887 units worth $3,016,316 Though Brown had worked hard for decades providing for his family and cutting hair for neighborhood boys, he hadnt delved into the nuances of high corporate finance leadership. But I say that because the firm never blinked. Smith, who first met Duckett in the mortgage bank sales force, says she just has a passion, an intellect, and intellectual curiosity that caught my attention. For us, this is not an effort. The West 125th Street location is now a site for regular seminars on household budgeting and small business. I was recently awarded the Charlie Robinson Memorial Award by Ted Reeve Hockey Association for contributions to kids' enjoyment of sport. At the helm of Consumer Banking, she has helped steadily increase earnings ($32.4 million in net income in 2018, or $9.04 per share, up from $24.4 million/$6.35 EPS in 2017) and a rising return on equity (13% last year). She came to TIAA from JPMorgan Chase, where she had served as CEO of Chase Consumer Banking and oversaw a network with more than $600 billion in deposits and 50,000 employees. She is also a founding member of the firms Women on the Move initiative to advance women in their careers and in business, according to Ted.com. I totally drank the Kool-Aid; The mission is our business, the business is our mission I can still recite it, she says. Low oil prices have kept gas prices from matching their 2022 highs, even as gas demand increases heading into the summer. automatically this yearand prior years, Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, New York, NY 10017, Opens in new window, need to login to access the page, Check the background of this firm on FINRAs BrokerCheck, FINRA Manual and other related FINRA information, Do not sell/share my personal information, Confidentiality for victims of domestic violence, TIAA-CREF Individual & Institutional Services, LLC, Statement of Financial Condition. Its not only on the financial statement: Are you a value-add to the community or just try to make as much money as you can?. Wichita State on Saturday fired head mens basketball coach Isaac Brown after three seasons. She discovered he had spent years without establishing and adequately contributing to a 401(k) plan, because he wasnt aware he was eligible. Despite her success, she and her family continue to face racism. The Fortune 500 has been without a Black woman CEO since Ursula Burns left Xerox in 2016.. One of Wall Street's highest-profile . After serving as the CEO of Chase Consumer Banking for over four years, it was recently announced that. "We know there are structural reasons for this," Duckett says. She becomes CEO and president of New York-based TIAA on May 1, succeeding Roger W. Ferguson Jr., who had announced his plans to retire, it said in a statement Thursday. Thasunda Brown Duckett Courtesy of TIAA Title President and CEO Affiliation TIAA Country U.S. A year and a half after taking over TIAAwith its nearly $1.2 trillion in assets under. After graduating from college, Duckett says she received multiple job offers, but decided to go with Fannie Mae, even though it was the lowest. Can Artificial Intelligence Ever Achieve Societal-Level Digital Trust? She and JPMorgan Chase are encouraging African-American women to take a savings and investment pledge as part of a financial empowerment program. Her father lost his job, and the family relocated from New Jersey to Texas . She serves on numerous boards, including that of Nike, the Robert F. Kennedy Human Rights organization, Sesame Workshop, and the National Medal of Honor Museum. ABC News reported that history was made in more than one way when two African American female CEOs made this year's Fortune 500 list for the first time. We chatted about 30 minutes, and I explained to him what his daughter did, and what an amazing executive she had grown into., I think whatever she sets her heart to doing, shes going to do astoundingly well, Smith said. Brown Duckett took the role of TIAA CEO this spring. Duckett serves on the boards of NIKE, Inc., Brex Inc., Robert F. Kennedy Human Rights, Sesame Workshop, National Medal of Honor Museum, Economic Club of New York, the University of Houston Board of Visitors, and the Deans Advisory Board for Baylor Universitys Hankamer School of Business. After serving as the CEO of Chase Consumer Banking for over four years, it was recently announced that Duckett will become the next CEO of the Teachers Insurance and Annuity Association of America (TIAA). Currently, she is just one of two Black women running a Fortune 500 company and the fourth ever to do so. Duckett will succeed current TIAA CEO Roger W. Ferguson Jr., who was just one of five Black CEOs in the Fortune 500 prior to Brewer's announcement earlier this year. It wasnt until she happened to deliver a market presentation at a 2004 conference in New York that she was approached by JPMorgan executives in attendance. Duckett, known by her friends and colleagues as T, is one of JP Morgan Chase's visible and accessible executives. After college she joined the government-sponsored enterprise, even though higher-paying offers were coming her way. In addition, Duckett is an appointee to the Presidents Board of Advisors on Historically Black Colleges and Universities (HBCUs), The Business Council Executive Committee, the Business Roundtable and the Committee for Economic Development of The Conference Board. Longtime corporate executive Thasunda Brown Duckett has accomplished a lot in her career. She worked with different constituencies, including Native American communities, to access down-payment assistance, grant and work programs that put people on the path to homeownership. If you watched the marathon that was the 2023 Masters Tournament on Sunday, you may have noticed that as the camera followed leaders Brooks Koepka and Jon Rahm, Koepkas two-shot lead wasnt the only thing Jon Rahm was nibbling at there on the fairways of Augusta National. Thasunda Brown Duckett . Offers may be subject to change without notice. The banks top executives, including CEO Jamie Dimon, step out one by one for an early-August ribbon-cutting ceremony for JPMorgans first retail location in the state. Thasunda Brown Duckett (born July 22, 1973) is an American businesswoman who serves as the president and chief executive officer (CEO) of TIAA. Famfa Oil, one of Nigeria's most prolific oil-producing companies. A primary aim for the new nationwide Currency Conversations program is to promote greater financial acumen and knowledge for communities of color for young black women in particular. 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