A New York City-based retirement plan provider's giant asset management arm reached a big milestone this month.

Jose Minaya Nuveen CEO

Jose Minaya, CEO of TIAA's Nuveen [profile], confirmed earlier in November 2023 that his team is marking their the fund firm's 125th anniversary. As of September 30, Nuveen had $1.1 trillion in AUM. A company spokesperson confirms that Nuveen now has 3,783 employees worldwide, include 2,200 investment professionals.

John Nuveen founded Chicago-based John Nuveen & Company on November 8, 1898, to help fund public infrastructure projects. By 1940, according to the Nuveen team, the firm had become the largest U.S. municipal bond specialist. TIAA (itself founded in 1918) bought Nuveen in 2014. In 2017, TIAA combined Nuveen with TIAA Global Asset Management (GAM) and branded the combined asset manager as Nuveen.

"When John Nuveen underwrote his first bond, he could not have imagined the challenges we face today, from the rapid pace of change and the complex dynamics of a global economy to the stability of society and the health of the environment," Minaya states. "But the foundation he laid prepared and empowered this firm to remain resilient through 125 years of market cycles, enabling us to always focus on what's best for our clients while striving to create a positive impact."

The Nuveen team now serves about 1,200 institutional clients and works with more than 160,000 financial advisors. The asset manager has $418 billion in fixed income AUm, $337 billion in equities AUM, and $290 billion in private assets. 

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