In this View From The Top interview, Thasunda Brown Duckett, president and CEO of TIAA, recalls her childhood experience moving from New York to Texas in a car packed with everything her parents and two siblings owned and why she knew from a young age that she had the power to make progress. Duckett is focused on filling the gaps for populations where poverty is pervasive and local needs jobs, investment and education are critically inadequate. On Thursday, the Teachers Insurance and Annuity Association of America, TIAA, announced longtime executive Thasunda Brown Duckett as its next CEO. This is not a nice-to-have. Duckett took the helm at TIAA this past spring. As local TV news cameras begin rolling, Gordon Smith, the chief operating officer, takes the floor to explain why theyve come. Banks are often viewed with distrust given their history of redlining and abandoning many inner-city neighborhoods. Ducketts instinct was to pass, she says. Thasunda's mailing address filed with the SEC is ONE BOWERMAN DRIVE, , BEAVERTON, OR, 97005. FORTUNE may receive compensation for some links to products and services on this website. TIAA names Thasunda Brown Duckett as CEO - CBS News The mood music about AI is starting to fundamentally shift. "When you know what it's like to look in the refrigerator and just see baking soda, or know what it's like to have your lights turned off, personal finance is important," she told The New York Times in 2019. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. In her role, she served as executive sponsor of JPMorgan Chase's Advancing Black Pathways program, an initiative focused on helping Black Americans close historical achievement gaps in wealth, education and career opportunities. I, too, can be a CEO. Her 10-year son was called the N-word by a white classmate, reminding her of the racism her dad suffered as a child. Thasunda Brown Duckett is President/CEO at Teachers Insurance & Annuity Association of America. Dallas and Fort Worth with New City Connect Uniforms. Fireside Chat with TIAA CEO Thasunda Brown-Duckett A Division of NBC Universal. Promoting diversity won't cut it, results will: Brown Duckett For us, this is not an effort. As TIAA's new CEO, Duckett will not only be the second Black woman currently leading a Fortune 500 firm, but she will also be just the fourth Black woman in history to serve as a Fortune 500 CEO. Thasunda Brown Duckett - Forbes From 2004 to 2013, Ms. Duckett held multiple management and consumer lending roles with JPMorgan Chase. [2], On May 1, 2021, she became the CEO of the Teachers Insurance and Annuity Association of America (TIAA), making her the fourth Black woman in history to serve as a Fortune 500 CEO,[4] and one of two female Black American CEOs to then lead a Fortune 500 company. She oversees a banking network with more than $800 billion in deposits and investments, 5,000 branches, 16,000 ATMs, and 48,000 branch employees serving 24 million households nationwide. Duckett has received a wide array of accolades from financial media, including Fortune, Forbes, Barrons, American Banker, Money and MarketWatch. The 2023 CIO Sentiment Survey, a collaboration between Top1000funds.com and CaseyQuirk, finds asset owners focusing on agility as they observe dramatic market changes not seen in a generation. Ducketts career success has given her family (which includes stay-at-home husband Richard) the financial wherewithal she could only dream of in her own childhood. This is not a nice-to-have. February 26, 2021 / 3:54 PM / CBS/AP. . You know its going to be a C-section and Ill be out for three months, right? And they said, Youre planning on coming back, right?. It was a story he first heard nearly a decade ago when both were honorees at an industry function recognizing top African-American achievers under the age of 40. Dan Deegan, who works in tandem with Duckett as the head of JPMorgans market expansion plans, salutes her for putting community needs over profits. All Rights Reserved. Can Artificial Intelligence Ever Achieve Societal-Level Digital Trust? In May 2021, Duckett became only the third Black female CEO of a Fortune 500 company when she was named top executive of TIAA. As of May 1, Thasunda Brown Duckett (MBA '01) now calls the shots for one of the nation's largest providers of secure retirements and outcome-focused investment solutions. "I have so . B.B.A., Finance and Marketing, University of Houston, M.B.A., Baylor University - Hankamer School of Business. Duckett showed early leadership credentials while at Houston. But I say that because the firm never blinked. Her father lost his job, and the family relocated from New Jersey to Texas . This article about a chief executive from the United States is a stub. Sekou Kaalund, a Chase managing director and head of Advancing Black Pathways, credits Duckett with sharing her own personal history and her career path to mentor those enrolled in the program. We can be at the highest levels of corporate America, and so I hope that young people of all backgrounds, little Black and brown girls and boys, will be able to see someone who looks like me, someone who has this unbelievable passion for saying I too, can ascend. She is a real talent., Independent and authoritative analysis and perspective for the banking industry. Language links are at the top of the page across from the title. "I often think about the day my father asked me to help him plan his retirement, and I had to tell him, 'Dad, your pension is not enough,'" shesaid in a statement announcing her new role at TIAA. Announced in 2018, the new branches are meant to expand JPMorgan to places it hasnt normally gone. If you watched the marathon that was the 2023 Masters Tournament on Sunday, you may have noticed that as the camera followed leaders Brooks Koepka and Jon Rahm, Koepkas two-shot lead wasnt the only thing Jon Rahm was nibbling at there on the fairways of Augusta National. Overseeing more than $600 billion in deposits, Duckett is also spearheading JPMorgan's branch expansion, which since its launch in 2018 has picked up steam: The bank plans to open 400 new. She is alarmed by a statistic that she regularly cites in interviews. I have to believe there will be better days ahead of us than the environment that we live in today, she says. New York, NY. Duckett's undertaking includes advocacy for change on both sides of the teller window. Own Your Purpose (with Thasunda Brown Duckett) - Episode 15 of Professional Troublemaker. Its California Certificate of Authority number is 3092. A sudden job loss forced the family into a cross-country relocation to North Texas where they started over. JPMorgans strategy is to build upon its retail connections with customers in cards, mortgages and wealth management in the Carolinas and other areas where JPMorgan branches have long been absent. Ls vr integritetspolicy och cookiepolicy fr att f mer information om hur vi anvnder dina personuppgifter. I want my kids to visit every continent before they graduate from high school, she says. I had to tell my dad, Your pension is not enough. . I, too, can someday do whatever it is that I aspire, she toldEssence. Duckett wants to influence many Black women who do not see many females of color in business top roles to become like her and other leading female black CEOs. Perhaps one sign of how things have changed was three years ago, with a gesture Smith made after Duckett was promoted to retail CEO. In a moment where I am doubting myself, my firm, my boss, did not blink. We ( I truly appreciate everyone) Thank you to everyone that supported BPACS-DFW volunteer effort! Paras Griffin | Getty Images Entertainment | Getty Images. The West 125th Street location is now a site for regular seminars on household budgeting and small business. By David Gelles. She gained some early acclaim by organizing a universitywide, intramural basketball tournament that brought together students from all stripes black and white, the Greek houses, dorms, etc. This new chapter, according toDuckett, will allow her to be at the table and having a voice not just for the business but across the entire firm. Her rapid ascent paved the way for another big promotion in 2013, when she became head of the auto finance division. There are 19 older and 3 younger executives at Nike. She holds a Bachelors degree in Finance and Marketing from the University of Houston and an MBA from Baylor University. From students to low-to-moderate income, to affluent, we want to be where the community lives, works and shops, Duckett says. "We know there are structural reasons for this," Duckett says. Each is solely responsible for its own financial condition and contractual obligations. If her struggles growing up opened her eyes to the reality of poverty, her days in the associate rotations programs at Fannie gave her the foundation for understanding solutions. For us, this is not an effort. She is the executive sponsor of JPMorgan Chases Advancing Black Pathways program, aimed at helping Black Americans achieve economic success through wealth, education and careers. Here's everything you need to know about Millie Bobby Brown and her engagement as the young Stranger Things star prepares to tie the knot. She is currently only one of two Black women running a Fortune 500 company, and only the fourth Black woman to ever helm one. I recognize it wasnt that long ago I could not exist in corporate America or in many parts of the fabric of our country. NEW YORK, Feb. 25, 2021 /PRNewswire/ -- TIAA, a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions, named Thasunda. She earned her bachelors degree in Finance and Marketing from the University of Houston and an MBA from Baylor University. I draw a lot of inspiration to those shoulders that Im on.. If you give all of your energy, commitment and passion to your life, you will almost certainly have a fulfilling professional and personal life journey. Earlier in her career, Brown Duckett worked at mortgage giant Fannie Mae, where she led strategies aimed at increasing homeownership rates among Black and Hispanic Americans. Her parents weren't able to buy a home until Duckett was able to help them with the purchase. Automotive: Thasunda Duckett, 41, CEO, Chase Auto Finance. I recognize it wasnt that long ago I could not exist in corporate America or in many parts of the fabric of our country. Duckett, Lattarulo, Kaliko: Greenwich business people Duckett, who made history at JPMorgan Chase last summer as the first Black woman to be named to the bank's operating committee, leads a banking network with more than $600 billion in deposits, 4,900 branches and over 40,000 employees.. As head of the bank's consumer banking division, Duckett has overseen the bank's $20 billion effort to add 400 new branches in 20 new markets over five years. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. As TIAA's CEO, Duckett leads a company whose mission is defined by financial inclusion. The bridge to racial equity starts with financial health Thasunda Brown Duckett President & CEO at TIAA Published Feb 18, 2021 + Follow Over the past year, I've had many conversations with my. I bet she gets more applause than any of them, the staffer says. SIPC only protects customers' securities and cash held in brokerage accounts. [5]. Thasunda Brown Duckett | White House Initiative on Advancing automatically this yearand prior years, Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, New York, NY 10017, Opens in new window, need to login to access the page, Check the background of this firm on FINRAs BrokerCheck, FINRA Manual and other related FINRA information, Do not sell/share my personal information, Confidentiality for victims of domestic violence, TIAA-CREF Individual & Institutional Services, LLC, Statement of Financial Condition. She challenged us to say its great to be profitable and great to be successful, but being successful comes in a lot of shapes and sizes, Deegan says. The most recent stock trade was executed by Johanna Nielsen on 17 April 2023, trading 282 units of NKE stock currently worth $35,540. A primary aim for the new nationwide Currency Conversations program is to promote greater financial acumen and knowledge for communities of color for young black women in particular. When Thasunda Brown Duckett took over as president and CEO of financial-services firm TIAA in May 2021, she became just the fourth Black woman to ever lead a Fortune 500 company. She was devastated for her 10-year-old son who in the last school year was called the N-word by a white classmate bringing back the pain of hearing of her fathers own childhood. In North Texas, they started over in an apartment using crates as makeshift furniture. JP Morgan recently named Thasunda Duckett as the first black woman on itsOperating Committee. Will The Cleveland Browns Defensive Overhaul Make A Difference In 2023? Barron's 100 Most Influential Women in U.S. Finance: Thasunda Brown The most active insiders traders include Philip H Knight, John J Donahoe, and Timothy D Cook. 36K Followers, 1,358 Following, 1,270 Posts - See Instagram photos and videos from Thasunda Brown Duckett (@thasunda) Consumer and commercial deposit and lending products and services are provided by TIAA Bank, a division of TIAA, FSB. And last year, Duckett helped create, as executive sponsor, a new program within the company intended to help close the racial wealth gap. She also served as a committee leader for the bank's Women on the Move initiative that works to provide financial education to women, as well as career and business opportunities. A Division of NBC Universal. Prior to joining the company, Duckett served as. This is embedded in our business, says Duckett. Her mom worked as a school teacher. Subscribe to The Broadsheet, our newsletter on the worlds most powerful women. Published: Dec 08, 2022 4 min read. She is also a founding member of the firms Women on the Move initiative to advance women in their careers and in business, according to Ted.com. When I think about who influences me, and I talk about this publicly, it is the janitors and the cooks and the secretaries who look like me who first entered corporate America that over time allowed me to exist. When Duckett interviewed for an internship with Fannies Dallas office as an undergraduate, she quickly made an impression. As JPMorgan Chase retail CEO, Ducketts initiatives have included the expansion of digital banking by adding new features to the banks mobile banking app, such as account opening. At corporate events, such as branch openings or her prized financial literacy campaign (Currency Conversations) she helped roll out this year with Essence, Duckett is a main attraction. But Fannie is a secondary-market business; Duckett wanted a closer connection to customers. A year and a half after taking over TIAAwith its nearly $1.2trillion in assets under managementDuckett has steered the investment firm to record-high operating margins. Fannie Mae was her entry into the corporate world and she never looked back. Thasunda Brown Duckett officially took the helm as the new CEO of TIAA on Saturday, becoming the fourth Black woman ever to head a Fortune 500 company. As one of the. In September, the bank added her to its leadership team. It is about first relating to people. 'Leadership Gems' From TIAA CEO Thasunda Brown Duckett She makes regular media and television appearances for the bank. [2] She attended the University of Houston, receiving a Bachelor's degree in Finance and Marketing. The inspiring story of Thasunda Duckett, the first Black woman on It wasnt until she happened to deliver a market presentation at a 2004 conference in New York that she was approached by JPMorgan executives in attendance. Paul Morigi | Getty Images Entertainment | Getty Images, JPM consumer banking CEO: We must make capital accessible to everyone, Meet 6 trailblazers in the NFL, Coast Guard, Hollywood and more, How to stop doubting yourself at work, according to Admiral Linda Fagan, 5 powerful women share their best-kept secrets to success, 26-year-old lives on $27K in Seattle: I'm 'grateful that I'm making that much', Meet Sandra Douglass Morgan, the only Black female president in the NFL. Last year the Browns' defense had big problems stopping the run, so they drafted a big run stuffer. Famfa Oil, one of Nigeria's most prolific oil-producing companies. She leads a company whose mission is defined by financial inclusion and opportunity goals and values she has upheld throughout her career. Playlists. Pets of the Week - Meet Snoopy & Jetta. Ms. Duckett is the Chief Executive Officer of Chase Consumer Banking at JPMorgan Chase & Co. ("JPMorgan Chase"). Low oil prices have kept gas prices from matching their 2022 highs, even as gas demand increases heading into the summer. Duckett's keys for leading during crisis. TIAA on Thursday named JPMorgan Chase Thasunda Brown Duckett as chief executive officer, making her the first woman to head the financial-services firm, which oversees $1.3 trillion. Before assuming her current role in 2016, she was the CEO of Chase Auto Finance. November 9, 2022 @ 1:30 pm - 2:30 pm. Fireside Chat with TIAA CEO Thasunda Brown-Duckett. Thasunda Brown Duckett (born July 22, 1973) is an American businesswoman who serves as the president and chief executive officer (CEO) of TIAA. For most of the employees waving Chase signs and banners, its their first meeting with the banks leaders, and they cheer each new arrival. Thasunda Brown Duckett is President and Chief Executive Officer of TIAA, a leading provider of secure retirements and outcome-focused investment solutions for millions of people and thousands of institutions. . I draw a lot of inspiration to those shoulders that Im on, she toldAmerican Banker. All rights reserved. Please consult your tax or legal advisor to address your specific circumstances. I chose Fannie Mae because I grew up in the company, she says. (The other three are Rosalind Brewer, current CEO of Walgreens Boots Alliance; former Xerox CEO Ursula Burns; and Mary Winston . Did you know Birmingham was home to the largest black Caribbean population in the UK? Focus and stay locked in on the task: Be empathetic, think about others, and trust your ability Be decisive: Use analytics and be bold Let go: Empower your team, acknowledge this is a team sport Beyond the pandemic, Duckett is leading TIAA through a critical time when the purpose of a corporation is shifting and more corporate transparency and . Smith, who first met Duckett in the mortgage bank sales force, says she just has a passion, an intellect, and intellectual curiosity that caught my attention. A few extra thousand dollars long term, I believed, was not material.. I said to T, Do your parents know what youll do for a living? Smith said. Another top priority: continuing the work on financial inclusion that she pioneered as an exec at JPMorgan through efforts to reduce racial and gender gaps in lifetime savings. She shares her story often in public settings, hoping to spark conversations on change she wants to see in her industry and to encourage successes in the communities that need more opportunity and investment. "You find your passion, and for me, that was homeownership.". As one of the senior black finance executive, Duckett is working to improve financial health and literacy for the 23 million households served by her organization. Under her leadership, TIAA is expanding its mission beyond higher education to all Americans saving for retirement. It was not because you are not capable of building wealth.. The initiative is marshaling resources to promote apprenticeships and post-graduation roles at Chase for black students education opportunities, as well as professional development programs for younger African-American executives recruited through the banks established Advancing Black Leaders program. The way we earn the trust is well open up our doors.. TIAA Bank has tapped JPMorgan Chase 's head of consumer banking, Thasunda Brown Duckett, to succeed longtime president and CEO, Roger Ferguson, Jr . Visit the redesigned Investment Finder to browse pre-defined categories and compare with advanced filtering. There Are Only 4 Black Fortune 500 CEOs - Yahoo Finance Thasunda Duckett - President & CEO @ TIAA - CrunchBase ", Don't miss:The best credit cards for building credit of 2021, Thasunda Brown Duckett on new CEO role at TIAA: I have so much gratitude for the shoulders I stand on, Walgreens' new CEO Roz Brewer on bias in the C-suite: 'When you're a Black woman, you get mistaken a lot', Ambition is not the problem: Women want the top jobsthey just dont get them, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC.
