S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. We know there are structural reasons for this, Duckett says. The mood music about AI is starting to fundamentally shift. We Thasunda Brown Duckett, the top Black executive at JPMorgan Chase & Co., is leaving the bank to become CEO of retirement-services provider TIAA. A nearby advance corporate staffer observes the welcome for Duckett, JPMorgans chief executive for consumer banking and one of the banks fast-rising young executives. In September 2016, Duckett was named to replace Sommers. [5]. 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. 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. I said to T, Do your parents know what youll do for a living? Smith said. 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. Under Duckett's leadership, Chase has undergone a digital and physical transformation that . It is about first relating to people. TIAA is the first company in Fortune 500 history to have two Black CEOs back-to-back. TIAA-CREF Individual & Institutional Services, LLC, MemberFINRAOpens in a new windowandSIPCOpens in a new window, distributes securities products. 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. For the new UNC campus-area branch (on Franklin Street, directly across the street from a rival SunTrust branch), Duckett picks up where Smith left off, further describing the banks mission within the new-market strategy: doing the right thing. When she was growing up, Thasunda Duckett's family sometimes struggled to buy groceries. Learn how and when to remove this template message, "Thasunda Brown Duckett of Chase: 'People Need to Know Who You Are', "Former Student Thasunda Brown Duckett Gifts Kindness Benches to Arlington ISD", "Thasunda Brown Duckett Joins NIKE, Inc. Board of Directors", "Why Thasunda Brown Duckett, TIAA's next CEO, accepted her lowest job offer after college", "Thasunda Brown Duckett on new CEO role at TIAA: 'I have so much gratitude for the shoulders I stand on', https://en.wikipedia.org/w/index.php?title=Thasunda_Duckett&oldid=1148400614, Articles needing additional references from May 2020, All articles needing additional references, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 5 April 2023, at 23:03. TIAA Bank's client service is available 7 days a week, so you can rest assured that well be around when you need us. 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. 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. CEO, Chase Auto Finance. . 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. I'm sharing this news Overseeing more than $600 billion in deposits, Duckett is also spearheading JPMorgans branch expansion, which since its launch in 2018 has picked up steam: The bank plans to open 400 new locations, with about a third in low- and moderate-income areas. Language links are at the top of the page across from the title. Duckett is one of JPMorgan Chases most visible and accessible executives. The billionaire 65-year-old leader of JPMorgan the longest-serving CEO at a big Wall Street bank received 1.5 million stock appreciation rights from the firm on Tuesday. She is a real talent., Independent and authoritative analysis and perspective for the banking industry. And Mary Winston was the second when she served as interim CEO at Bed Bath & Beyond in 2019 before being replaced by permanent CEO Mark Tritton. As the president and CEO of TIAA, she has championed efforts to make saving. Subscribe to The Broadsheet, our newsletter on the worlds most powerful women. As a young girl, Thasunda Brown Duckett experienced economic uncertainty firsthand. Browse the library of TED talks and speakers. It was during this time, getting her first experience heading a profit-and-loss center for Chase, that she faced her first hurdle one that she herself nearly put in the way. Now as TIAA's new CEO, the executive says, "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. The Chapel Hill site is the 28th branch opening in an ambitious plan to start nearly 400 JPMorgan bank centers in new markets across the country, expected to be completed by 2024. The catch? By Thasunda Brown Duckett Dec 1, 2022 Experience President & CEO TIAA May 2021 - Present2 years President and CEO of TIAA, a Fortune 100 provider of secure retirements and outcome-focused. This is not a nice-to-have. Ducketts undertaking includes advocacy for change on both sides of the teller window. She is a frequent voice and face for the bank in television appearances and the news media. Each is solely responsible for its own financial condition and contractual obligations. They asked her if she would consider joining Chase in a burgeoning area for the bank: an affordable lending/emerging market business in New Jersey. As the Independent Director of Nike, the total compensation of Thasunda Duckett at Nike is $229,719. Thasunda Brown Duckett was named president and CEO by TIAA-CREF, effective May 1, a news release said Thursday.. Ms. Duckett currently is the CEO of Chase Consumer Banking, a division of J.P . The mission strikes a chord with Duckett, who grew up in a family that faced economic hardship. Announced in 2018, the new branches are meant to expand JPMorgan to places it hasnt normally gone. Thasunda Brown Duckett and Roz Brewer run high-ranking businesses as CEOs who made history as Black women in business. [3], Duckett founded and chairs The Otis and Rosie Brown Foundation to continue the legacy of her parents. She is alarmed by a statistic that she regularly cites in interviews. 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. When Duckett steps into her new role on May 1, she will become the second Black woman to currently lead a Fortune 500 firm, accompanying Walgreens new CEO Rosalind Brewer on the list. Teachers Insurance and Annuity Association of America named JPMorgan Chase's Thasunda Brown Duckett as CEO, the second Black woman tapped this year to lead a Fortune 500 company.. Starbucks executive Rosalind Brewer was appointed last month to helm Walgreens.. I felt like, you know what, I can bet on myself.. Duckett, 47, will become chief executive and president of TIAA on May 1, succeeding Roger Ferguson Jr. -- who had previously announced his plans to retire -- the New York-based firm said in a. The most recent stock trade was executed by Johanna Nielsen on 17 April 2023, trading 282 units of NKE stock currently worth $35,540. 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. She makes regular media and television appearances for the bank. High Vis vocalist Graham Sayle discusses the band's first U.S. tour and his own road to self-improvement. Duckett will succeed current TIAA CEO Roger W. Ferguson Jr., who was just one of five Black CEOs in the Fortune 500 prior to Brewer's announcement earlier this year. Offers may be subject to change without notice. "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," says Duckett. Duckett is the first female CEO of TIAA, a leading . Accord to CNN, there have only been 19 Black CEOs of . One of the proposed changes in the new CBA could make an extension far more realistic for Jaylen Brown and the Boston Celtics even if he doesn't make an All-NBA team this year. When Duckett interviewed for an internship with Fannies Dallas office as an undergraduate, she quickly made an impression. . Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. Duckett's dad, she says, worked at a Xerox warehouse in New Jersey before losing his job and moving the family to Texas. "I said, 'I know this company and I like the people, and I'll have a better shot here,'" she told the Times. Duckett later moved to Los Angeles, where she took on greater roles in account management and fee-guarantee negotiations with banks and investors. At the conversation events, which kicked off in June at JPMorgans Harlem branch, Duckett encourages black women to take the Currency Conversations pledge to save money, reduce debt, set a financial goal and, most important, spread the pledge to friends and family in the African-American community. This is not a nice-to-have. Its not only on the financial statement: Are you a value-add to the community or just try to make as much money as you can?. 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. The average net worth for single African-American women is $200 while the average for single white women exceeds $15,000. TED Talks. Thasunda's mailing address filed with the SEC is ONE BOWERMAN DRIVE, , BEAVERTON, OR, 97005 . They moved to an apartment in Arlington, at first using crates as makeshift furniture. Duckett loved Fannie Mae. 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. After college she joined the government-sponsored enterprise, even though higher-paying offers were coming her way. All rights reserved. Ms. Duckett is the Chief Executive Officer of Chase Consumer Banking at JPMorgan Chase & Co. ("JPMorgan Chase"). Thats the one thing that resonates to me., Ducketts respect for those who blazed a trail before her extends to the social campaign foundation she founded in 2013, naming it in her parents honor. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. B.B.A., Finance and Marketing, University of Houston, M.B.A., Baylor University - Hankamer School of Business. Will The Cleveland Browns Defensive Overhaul Make A Difference In 2023? In 2021, Thasunda Brown Duckett was named the president and CEO of TIAA, a retirement and financial services company for academic, research, medical and governmental workers. Banks are often viewed with distrust given their history of redlining and abandoning many inner-city neighborhoods. February 26, 2021 / 3:54 PM / CBS/AP. A sudden job loss forced the family into a cross-country relocation to North Texas where they started over. She and JPMorgan Chase are encouraging African-American women to take a savings and investment pledge as part of a financial empowerment program. 36K Followers, 1,358 Following, 1,270 Posts - See Instagram photos and videos from Thasunda Brown Duckett (@thasunda) I like to say I am my ancestors wildest dreams, she says. [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. I think thats a moment, there was this vulnerability of doubt, of Are you sure you want me? she says. In addition, Duckett is an appointee to the Presidents Board of Advisors on Historically Black Colleges and Universities (HBCUs), The Business Council Executive Committee, the Business Roundtable and the Committee for Economic Development of The Conference Board. Account openings and performance have more than doubled the average we see in new branches at existing markets.. Alumna of the Year. Smiths talk is the cue for the entrance of another top executive into the branch. Thasunda Brown Duckett (born July 22, 1973) is an American businesswoman who serves as the president and chief executive officer (CEO) of TIAA. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. The West 125th Street location is now a site for regular seminars on household budgeting and small business. Once again, this week on Professional Troublemaker, we're going back into our archives and re-sharing some of our interviews with epic professional troublemakers. Duckett aims to be an influencer, especially among young black women who do not see many females of color in business leadership roles. The bank also opened a branch in Camden, N.J., and in June opened the doors to a remodeled branch in Harlem. Pets of the Week - Meet Snoopy & Jetta. It was not because you are not capable of building wealth.. Thasunda Brown Duckett serves as Independent Director of the Company. "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. The information is out there, but most people dont think its for me., After college Duckett joined Fannie Mae, even though higher-paying offers were coming her way. Her father lost his job, and the family relocated from New Jersey to Texas . 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For 26 million households, you have to be the bank for everyone to have that number of households to choose our bank.. At Chase, Duckett managed a banking network with more than $600 billion in deposits across 4,900 branches with more than 40,000 employees. Smith went to Ducketts office that day to celebrate her advancement, when a question came to him. Now she's become one of JPMorgan Chase's most visible executives, using the lessons of her past to help guide the bank's massive branch expansion. The way we earn the trust is well open up our doors.. They were going to be part of his future, too. I have to believe there will be better days ahead of us than the environment that we live in today, she says. From 2013 to 2016, Ms. Duckett served as the Chief Executive Officer of Chase Auto Finance. The average net worth for single African-American women is $200 while the average for single white women exceeds $15,000. "I loved it," she told The New York Times in 2019, "and I started to realize that I was going to work in the mortgage business.". Duckett spearheaded Chases National Savings campaign, complete with new tools, products, and thought leadership to promote financial health for all consumers. The Fortune 500 has been without a Black woman CEO since Ursula Burns left Xerox in 2016.. One of Wall Street's highest-profile . In her role at Fannie Mae, she helped lead affordable housing initiatives for people of color. 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. In a moment where I am doubting myself, my firm, my boss, did not blink. Duckett, shown with guests at the Currency Conversations event in Harlem, is driven to improve educational and life opportunities for young girls of color. ( I truly appreciate everyone) Thank you to everyone that supported BPACS-DFW volunteer effort! 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. When the company was closed, her family relocated to Texas where her mom, Rosie, found a job as a teacher. Side Navigation. Ordinary people can be extraordinary.. Duckett's dad worked at a Xerox warehouse in New Jersey before losing his job and moving the family to Texas, she says. ABC News reported . After four years as a senior vice president in Jersey, she shifted to a regional post overseeing the banks home lending division. Elijah Moore possesses untapped potential, which could be harnessed by the Browns following their trade with the Jets. February 26, 2021, 4:22 pm By Tim Glaze. Over the last 19 years, insiders at Nike have traded over $3,545,556,127 worth of Nike stock and bought 36,887 units worth $3,016,316 In late February, TIAA a leading financial services provider that ranks among the 100 largest corporations in America named one of Baylor's own as its president and CEO. After serving as the CEO of Chase Consumer Banking for over four years, it was recently announced that Duckett will become the next CEO of the Teachers Insurance and Annuity Association of America (TIAA). 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. Despite her success, she and her family continue to face racism. 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. TIAA Bank has tapped JPMorgan Chase 's head of consumer banking, Thasunda Brown Duckett, to succeed longtime president and CEO, Roger Ferguson, Jr . A Division of NBC Universal. Fannie Mae was her entry into the corporate world and she never looked back. FORTUNE may receive compensation for some links to products and services on this website. The banks top executives, including CEO Jamie Dimon, step out one by one for an early-August ribbon-cutting ceremony for JPMorgans first retail location in the state. As Games Shorten, MLB Teams Need To Step Up Their Marketing Efforts To Keep Concession Sales Up, Barring A Trade, Cleveland Browns Will Have A Long Wait Before Making Their First Draft Pick, Saweetie And Her Grandma Are Teaching Financial Literacy To Black And Brown Youth, Millie Bobby Brown Stranger Things Star Engaged: Everything You Need To Know, Jon Rahm Brown Bagged His Way To A Green Jacket, The Cleveland Browns And Elijah Moore Are A Potentially Perfect Marriage, New CBA Could Lower All-NBA Stakes For Jaylen Brown, Boston Celtics. Prior to joining JPMorgan Chase, Ms. Duckett was Director of Emerging Markets at the Federal National Mortgage Association, or Fannie Mae. Thasunda Duckett, chief executive officer of consumer banking at JPMorgan Chase & Co. Patrick T. Fallon | Bloomberg | Getty Images, JPM consumer banking CEO: We must make capital accessible to everyone, 5 powerful women share their best-kept secrets to success, 3 red flags that prove it might be time to quit your job, How this 28-year-old went from earning $72,000 to $186,000 in 5 years, Parenting expert: 5 signs your kid will be successful, Why companies pay women less, according to a salary negotiation lawyer. Her parents weren't able to buy a home until Duckett was able to help them with the purchase. The Otis and Rosie Brown Foundation annually issues student scholarships and grants to nonprofit organizations that, according to the organizations motto, exemplify what Duckett sees in her parents: Extraordinary things can be done with ordinary resources., You dont have to be Oprah and give away cars to be extraordinary, Duckett says. TIAA-CREF Life Insurance Company is domiciled in New York, NY, with its principal place of business in New York, NY. The branch expansions have turned 2019 into one of the most consequential of Ducketts three-year tenure as the leader of JPMorgans retail bank services. See Thasunda Brown Duckett's compensation, career history, education, & memberships. Duckett, currently the CEO of TIAA, says the Tulsa. Did you know Birmingham was home to the largest black Caribbean population in the UK? 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