NU Online News Service, Oct. 7, 12:02 p.m. – The board of the Teachers Insurance and Annuity Association and College Retirement Equities Fund, New York, has hired Herbert Allison Jr. to be the organization’s new chairman, president and chief executive.

Allison succeeds John Biggs, who is retiring from TIAA-CREF after serving as chairman for nine years.

Allison is now president of the Alliance for Lifelong Learning Inc., a nonprofit venture backed by Oxford, Stanford and Yale universities that delivers courses through the Web.

Allison previously was president of Merrill Lynch & Company Inc., New York. He retired from Merrill Lynch in July 1999.

Allison has a bachelor’s degree from Yale University and a master’s degree in business from Stanford University. He has served as an officer in the U.S. Navy.

Allison is a former board member of the National Association of Securities Dealers Inc., New York, and a past chairman of the Stanford Business School Advisory Council.

From 1999 to 2000, Allison was the national finance chairman for the presidential primary campaign of Sen. John McCain, R-Arizona.