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TIAA Names Former Treasury Official as Chief Compliance Officer

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TIAA, a leading financial services provider, said Monday that David Nason has joined the company as executive vice president and chief risk and compliance officer, a newly created position.

Nason, who started on Sept. 16, will report to John Douglas, senior executive vice president and chief oversight and advocacy officer.

Roger Ferguson, Jr., president and CEO of TIAA, said in statement that Nason “joins our strong Oversight and Advocacy team, ready to continue our path forward in implementing effective risk mitigation and compliance strategies. David is an excellent addition to TIAA’s senior leadership team.”

Douglas added that Nason’s “extensive leadership experience in financial services organizations will serve TIAA well in today’s rapidly changing and complex regulatory landscape. As our businesses become more integrated, it is important that our oversight and control functions are closely aligned. This alignment will assist our businesses and lead to better outcomes for our customers.”

Prior to joining TIAA, Nason served as the president and CEO of GE Energy Financial Services, GE’s worldwide energy investing business, with an asset base of $15 billion.

Prior to that, he served as the chief regulatory and compliance officer at GE Capital, where he created a strategy, organization and operating framework for the $600 billion asset financial institution. In that role, he partnered with top executives to deliver risk management, capital planning, regulatory and legal affairs, and policy advocacy.

He also served as assistant secretary for financial institutions for the Treasury Department, where he was instrumental in the government’s response to the 2008 financial crisis and served as lead advisor on banking, securities and housing-finance regulatory matters.

He held previous roles at the Securities and Exchange Commission and the law firm Covington & Burling.

“I am very excited to join TIAA with its rich, mission-based culture and reputation,” added Nason in the statement. “I appreciate the opportunity to lead a talented team of individuals as TIAA’s business grows and evolves.”

Nason holds a bachelor’s degree in finance from the American University, and a J.D. from the American University Washington College of Law, where he graduated summa cum laude.