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Thasunda Brown Duckett
Thasunda Brown Duckett, CEO of Chase Consumer Banking, is leaving JPMorgan to become head of TIAA.
Duckett will join the New York-based financial services company on May 1 as president and CEO, replacing Roger W. Ferguson Jr., who had previously announced his retirement. He will remain as CEO until Duckett assumes her new role, TIAA said in a statement.
“Thasunda is widely recognized as an exceptionally dynamic and inspirational leader,” Ronald L. Thompson, chairman of the TIAA Board of Trustees, said in the statement. “She brings invaluable experience leading and growing large, complex businesses, setting and executing strategy, improving client experience and attracting and developing talent. Equally important, she is deeply mission-oriented, with values that reflect those of TIAA, including a passion for financial inclusion and empowerment.”
Duckett led a banking network at Chase with more than $600 billion in deposits, 4,900 branches and over 40,000 employees. She undertook Chase’s first major branch expansion in 10 years, adding 400 new branches in 20 new markets over five years, including in Greater Boston.
She was the executive sponsor of JPMorgan Chase’s Advancing Black Pathways program, which helps Black Americans close historical achievement gaps in wealth creation, educational outcomes and career success. Duckett also sat on the steering committee for the bank’s Women on the Move initiative to help women advance in career and business opportunities, and she was the executive sponsor of the bank’s Fellowship Initiative, providing academic and social support to help young men of color achieve personal and professional success.
“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,’” Duckett said in the statement. “Now, thanks to his work and sacrifices and the support of many others who have guided me throughout my life and career, I am blessed to join TIAA, which has paid out over $500 billion of lifetime income and other benefits since its founding in 1918. I am extraordinarily grateful for the opportunity to lead a company that has helped millions of people retire with ‘enough’ to live in dignity and excited about the opportunity to help TIAA chart its next 100 years.”
