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TIAA-CREF Realigns Asset Group
Investment Team Is Merged
With Business Operations;
Evans Tapped to Lead Unit
By ARDEN DALE
March 8, 2006; Page C15
In a move that reflects an effort to streamline its activities, TIAA-CREF said it has realigned its asset-management business and named a head for the new area.
The pension and annuity giant also appointed a new chief investment officer, Edward Grzybowski, to oversee investment strategy.
The organization said Scott Evans, who had been TIAA-CREF chief investment officer since 2003, has been named executive vice president of the newly created asset-management area. Mr. Evans also was named chief executive of investment-advisory subsidiaries Teachers Advisors Inc., and TIAA-CREF Investment Management LLC.
In his new role, Mr. Evans will be responsible for developing TIAA-CREF's investment products and for oversight of the company's more than $370 billion in combined assets under management.
TIAA-CREF Asset Management combines the company's investment-management capabilities with sales, product-development and support-service resources.
"Working more efficiently as a single business unit to produce TIAA-CREF brand asset-management products that meet the needs of our clients is the goal of creating this distinct business area with TIAA-CREF," Mr. Evans said in a prepared statement. "By integrating investments with the business side of asset management, we can be more flexible and responsive to our customers' long-term investing needs."
Mr. Grzybowski, who succeeded Mr. Evans as investment officer, is the former head of TIAA-CREF Investment Services, the operations and processing unit for the investment area. In his new role, he is responsible for investment policy and strategy. Reporting to Mr. Grzybowski are Susan Ulick, head of equity investment, John Somers, head of fixed income and real estate, and Jayesh Bhansali, head of derivatives strategy and trading.
Mr. Grzybowski has held a number of roles in his nearly 20 years at TIAA-CREF, including group managing director overseeing fixed income and short-term funds, bond lending, and the foreign currency and derivative trading units.
The changes, announced yesterday, were effective on March 1.
TIAA-CREF Realigns Asset Group
Investment Team Is Merged
With Business Operations;
Evans Tapped to Lead Unit
By ARDEN DALE
March 8, 2006; Page C15
In a move that reflects an effort to streamline its activities, TIAA-CREF said it has realigned its asset-management business and named a head for the new area.
The pension and annuity giant also appointed a new chief investment officer, Edward Grzybowski, to oversee investment strategy.
The organization said Scott Evans, who had been TIAA-CREF chief investment officer since 2003, has been named executive vice president of the newly created asset-management area. Mr. Evans also was named chief executive of investment-advisory subsidiaries Teachers Advisors Inc., and TIAA-CREF Investment Management LLC.
In his new role, Mr. Evans will be responsible for developing TIAA-CREF's investment products and for oversight of the company's more than $370 billion in combined assets under management.
TIAA-CREF Asset Management combines the company's investment-management capabilities with sales, product-development and support-service resources.
"Working more efficiently as a single business unit to produce TIAA-CREF brand asset-management products that meet the needs of our clients is the goal of creating this distinct business area with TIAA-CREF," Mr. Evans said in a prepared statement. "By integrating investments with the business side of asset management, we can be more flexible and responsive to our customers' long-term investing needs."
Mr. Grzybowski, who succeeded Mr. Evans as investment officer, is the former head of TIAA-CREF Investment Services, the operations and processing unit for the investment area. In his new role, he is responsible for investment policy and strategy. Reporting to Mr. Grzybowski are Susan Ulick, head of equity investment, John Somers, head of fixed income and real estate, and Jayesh Bhansali, head of derivatives strategy and trading.
Mr. Grzybowski has held a number of roles in his nearly 20 years at TIAA-CREF, including group managing director overseeing fixed income and short-term funds, bond lending, and the foreign currency and derivative trading units.
The changes, announced yesterday, were effective on March 1.
posted by Jones Lang LaSalle NJ News Blog at 10:41 AM
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