Maliz Beams has been named the executive vice president of individual client services at TIAA-CREF. Beams takes the reigns from Frances Nolan, who has been appointed vice chairman. Nolan plans to retire at the end of 2008. Before her appointment as EVP of individual client services, Bearns was TIAA's senior managing director for wealth management and advice.

TIAA-CREF announced today that Maliz Beams has been named Executive Vice President, Individual Client Services. She succeeds Frances Nolan, who has been appointed Vice Chairman, TIAA, reporting to Herb Allison, TIAA-CREF�s Chairman and Chief Executive Officer.

Maliz Beams, formerly the company�s Senior Managing Director, Wealth Management and Advice, will oversee all of TIAA-CREF�s areas responsible for individual client services, including the company�s Wealth Management Group; advice and planning; insurance, trust, brokerage and wealth product management; telephone counseling centers and participant services. She will also serve as President of TIAA-CREF Individual & Institutional Services, LLC and as a member of the company�s Executive Management Team.

Ms. Nolan�s responsibilities will include cultivating institutional client relationships. She has expressed her intention to retire next year.

�Maliz Beams brings exceptional leadership and extensive experience to her new role as head of Individual Client Services,� said chief executive Herb Allison. �Over the past three years she has led our key strategic initiatives to build our Wealth Management Group and deliver our award-winning advisory service, both of which have earned the overwhelming satisfaction of clients who have taken advantage of them.

�Fran Nolan has made an enormous contribution to TIAA-CREF over her 27-year career,� Mr. Allison added. �Fran has dedicated herself to the financial needs of our institutional and individual clients, and exemplifies our company�s longstanding devotion to putting our clients� interests first. I am pleased that she will continue to serve our company and clients as we proceed with our strategic transformation.�

Ms. Beams joined TIAA-CREF in 2004 as head of TIAA-CREF�s Wealth Management business, and Advice and Planning Services. Previously, she was a partner at Spyglass Investment Management. Before joining Spyglass, Ms. Beams was a partner and managing director of Zurich Scudder Investments, and president of global business development for their mutual fund group. She also led Scudder�s international mutual fund and offshore businesses and its U.S. retail mutual fund and brokerage businesses.

Formerly, Ms. Beams served as managing director and head of the tax-exempt institutional asset management business and chief executive of discount brokerage at Fleet Investment Advisers, where she also was head of institutional and retail strategy and marketing. She also was director of the Consumer Card Group at American Express and led Citibank�s Retail Acquisition and Relationship Management business for the New York Banking Division. Ms. Beams is a graduate of Boston College and Columbia University�s Graduate School of Business.

Ms. Nolan became head of Individual Client Services in 2006 after serving for three years as Executive Vice President of Client Services. Since joining TIAA-CREF in 1980 she has held various senior management positions, including Vice President for Participant Services and Vice President in charge of TIAA-CREF�s Eastern Division, including the company�s counseling, correspondence and telephone service centers. Ms. Nolan earned a B.A. from Dowling College and an M.B.A. from Iona College.

About TIAA-CREF

TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with more than $428 billion in combined assets under management (6/30/07) and the leading provider of retirement services in the academic, research, medical and cultural fields.

Edited by: Erin Kello

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