Roger Ferguson just picked a new chief for TIAA's $882-billion asset management arm.

Vijay Advani Nuveen Designated CEO

Ferguson confirms that on April 21 Nuveen [profile] president and chief operating officer Vijay Advani will become CEO of the TIAA subsidiary. Current Nuveen chief Rob Leary is leaving the firm "to pursue another professional opportunity."

Leary is "taking a job outside of the asset management industry," a source familiar with the situation tells MFWire.

Advani's promotion comes less than three months after he joined TIAA Global Asset Management, shortly before Ferguson rebranded all of TIAA GAM as Nuveen.

Ferguson, president and CEO of all of TIAA, praises Advani as "ideally suited to lead" Nuveen.

"He is a skilled leader whose vision for the business will serve our clients well," Ferguson states.

Advani is an alumnus of both the University of Mumbai and UMass Amherst, and he is an 11-year veteran of the World Bank. He spent 21 years at Franklin Templeton, eventually rising to co-president of Franklin Resources, before joining TIAA GAM in January 2017.

Leary, an alumnus of both Union College and Fordham, joined TIAA in 2013 as asset management chief, and in 2014 TIAA bought Nuveen. Prior to TIAA he worked at ING U.S. (now Voya), AIG, J.P. Morgan, and White & Case.

"We thank Rob for his significant contributions to TIAA and, especially, to the growth of our asset management business since he joined us in 2013," Ferguson states. "We wish him well in his new endeavor." 

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