TIAA-CREF Names Chief Operating Officer as Part of New Client-Focused Organizational Structure

Consolidates Client-Facing Functions to Intensify Focus on Customers

NEW YORK, June 21, 2010

TIAA-CREF today announced the appointment of Edward Van Dolsen as chief operating officer. The move organizes the company fully around customers to meet their evolving needs.

In addition, the company named Marvin Adams as executive vice president of shared services. TIAA-CREF also announced that Maliz Beams, executive vice president for client services, has decided to leave after six years with the company.

Van Dolsen will oversee the company’s institutional and individual client services, sales and distribution and product functions, with the goal of reducing complexity and accelerating decision-making.

“This evolution of our structure consolidates our customer-focused areas to enhance the delivery of services clients expect today and anticipate and meet their future needs,” said chief executive Roger W. Ferguson, Jr. “Ed’s knowledge and 28 years of experience at TIAA-CREF give me complete confidence in his ability to ensure that we listen and learn from clients, serve them with excellence, and improve continuously.”

Van Dolsen, who has been the company’s executive vice president for product development and management since 2008, will ensure that TIAA-CREF’s clients and prospective clients have full access to the broad range of products and services offered by the company.

“We’re organizing around our customers, so that we can respond nimbly to their needs,” said Mr. Van Dolsen. “We will also continue to make capital investments and infrastructure improvements on behalf of clients, who are the driving force in all we do.”

Prior to his most recent position, Van Dolsen, 52, held a series of senior management positions within TIAA-CREF, including executive vice president of institutional client services and head of the pension product management team. He joined the company in 1982. Van Dolsen holds a B.A. from Franklin and Marshall College and an M.B.A. from Pace University.

Maliz Beams leaves a strong foundation in the individual and institutional businesses on which to build. She developed and launched TIAA-CREF’s Wealth Management business and built the company’s objective advice platform, which Forbes called “the most extensive personalized workplace advice.”1 She also led the restructuring and launch of the company’s Personal Trust and Private Asset Management businesses, guiding them to record growth. During her tenure, TIAA-CREF was ranked the highest brand for trust in the financial services and insurance industries by the 2010 Harris Poll® EquiTrend survey.

“Under Maliz’ leadership, we’ve grown our individual and institutional businesses significantly despite these challenging economic times,” said Mr. Ferguson. “Her leadership helped us forge new capabilities on behalf of clients and contributed significantly to meeting their financial needs. We are grateful for her contributions and wish her well.”

Adams’ new shared services group will encompasses technology & operations, sourcing, and other business process support functions that support high-quality services to our clients. He joined TIAA-CREF in January from Fidelity Investments, where he was president of shared services and responsible for enterprise transformation.

Scott Evans, executive vice president of Asset Management, will continue to report to Roger Ferguson. Evans oversees TIAA-CREF’s investment advisory subsidiaries TIAA-CREF Investment Management LLC and Teachers Advisors Inc. Together, these units manage more than $425 billion in TIAA-CREF mutual funds, annuities, separate accounts and TIAA’s general account. The asset management organization will retain its own sales, distribution, and product management functions.

TIAA-CREF ( is a national financial services organization with $426 billion in combined assets under management (3/31/10) and the leading provider of retirement services in the academic, research, medical and cultural fields.

Media Contact:

Chad Peterson, Director, Corporate Media Relations, 704 988-6811; Cell: 917 715-9083

About the EquiTrend® Study

This year’s EquiTrend® study was conducted online among 19,708 US consumers ages 15 and older between January 12 and 21, 2010. The total number of brands rated was 1,151. Each respondent was asked to rate a total of 60 randomly selected brands. Each brand received approximately 1,000 ratings. Data were weighted to be representative of the entire US population of consumers ages 15 and over on the basis of age sex, education, race/ethnicity, region, and income, and data from respondents ages 18 and over were also weighted for their propensity to be online. The EquiTrend® study evaluates measures including: Equity, Consumer Connection, Commitment, Energy, Brand Behavior, Brand Advocacy, and Trust.

Please view the Harris Interactive press release here.

1 “Playing the Numbers,” Forbes 2009 Retirement Guide.

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