By Colin Kellaher
TIAA on Wednesday said it named Lori Fouche senior executive vice president and chief executive of its newly combined Retail & Institutional Financial Services segment, effective Aug. 7.
TIAA, the largest provider of retirement-plan services to nonprofit organizations, said Ms. Fouche will oversee its institutional and individual client-services groups.
"This integrated team will work together to meet the evolving needs of individual and institutional clients across the full range of financial services, while enhancing efficiency, reducing complexity and providing a more seamless customer experience," TIAA said.
Ron Pressman is retiring as CEO of TIAA's institutional financial services, while Kathie Andrade, CEO of retail financial services, is leaving to pursue other opportunities, TIAA said. Both have agreed to assist through a transition period.
Ms. Fouche is joining TIAA from Prudential Financial Inc. (PRU), where she was head of the individual solutions group. Prudential on Wednesday said it named Caroline Feeney to head the group, which comprises annuities and individual life insurance. Salene Hitchcock-Gear will succeed Ms. Feeney as president of individual life insurance, which includes Prudential Advisors.
Write to Colin Kellaher at firstname.lastname@example.org
(MORE TO FOLLOW) Dow Jones Newswires