Carl Katerndahl just hired Nuveen's [profile] first subadvisory channel chief, with a focus on insurance companies. Watch for the new hire to build out a team over the next year.

Katerndahl, executive vice president and head of the Chicago-based TIAA-CREF subsidiary's retail sales and distribution efforts, confirms that earlier this month Tim Stegner joined Nuveen in the newly-created role of managing director of subadvisory distribution. Stegner reports to Katerndahl.

Stegner's efforts are supported by the national accounts intermediary partner initiative and relationship management teams.

"He does intend to build his own team internally," Katerndahl tells MFWire. "We're contemplating three to five hires within the next twelve months."

Katerndahl says Nuveen is seeing "increased interest" in the insurance channel, so it made sense to have specialized leadership in the area. 

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