TIAA adds chief people officer
TIAA has promoted Claire Borelli to the role of chief people officer. She reports to Thasunda Brown Duckett, president and CEO, and joins the company’s executive committee. Borelli succeeds Sean Woodroffe, who has accepted an expanded role at another company.
Borelli was previously TIAA’s chief diversity and talent officer. In her new role, she will be responsible for TIAA’s HR strategy and execution, including talent acquisition, development and retention; compensation and benefits; organizational design and effectiveness; and diversity, equity and inclusion. She will also oversee internal communications strategies.
Borelli joined TIAA in August 2022 after nearly 11 years at JPMorgan Chase, where she led HR roles for several divisions, including wealth management and Chase’s consumer bank, and developed and executed strategies to drive productivity and organizational effectiveness. Prior to Chase, she held senior roles at UBS Wealth Management and Merrill Lynch.
Lincoln names chief people, culture and communications officer
Lincoln Financial Group announced that Sean N. Woodroffe will join the company on May 1, 2023, as chief people, culture and communications officer.
Woodroffe will oversee all aspects of HR, including talent management and development, employee experience, benefits and wellness, HR technology and operations, organizational and leadership effectiveness, HR business partnering, diversity, equity and inclusion and corporate responsibility. He will also oversee the company’s corporate communications function.
Woodroffe comes to Lincoln from TIAA, where he served as chief people officer since 2018 and was responsible for leading HR strategy and execution as well as internal communications for the organization’s global workforce.
Before joining TIAA in 2017, Woodroffe was chief people officer at National Life Group. Prior to that, he was at SunLife Financial as the U.S. head of HR and associate communications, and he also held senior executive HR roles at Financial Guaranty Insurance Company and the United Bank for Africa. He started his career and spent 18 years at Merrill Lynch, where he last served as first vice president and head of international HR based in London, and previously led HR for Merrill Lynch’s Japan wealth management business unit based in Tokyo.
Woodroffe replaces chief people officer Jen Warne, who is stepping down from her role effective April 14.
Nuveen appoints new head of municipals
Nuveen, the investment manager of TIAA, has appointed Daniel Close, a veteran portfolio manager at the firm, as head of municipals.
Close, who ran the firm’s taxable municipals business, will now assume leadership over its entire municipal finance investment team. He succeeds John Miller, who is retiring after a successful career, including nearly 30 years at Nuveen.
In leading Nuveen’s Taxable Municipals business, Close helped establish and expand the platform to $35 billion in assets under management, serving more than 60 institutional accounts.
Miller, who joined Nuveen in 1996, will continue to serve as a portfolio manager until his retirement on June 1.
Prior to Miller’s retirement, Nuveen will leverage the firm’s bench of senior executives to transition responsibilities for managing 10 of the firm’s more than 60 municipal bond funds. Nuveen will make no changes to its separately managed accounts, investment-grade municipals or taxable municipals businesses.
OneAmerica joins Retirement Advisor Council as service provider
OneAmerica has joined the Retirement Advisor Council in the Service Provider college.
OneAmerica is one of 13 service providers in the Council membership.
The company will be represented by Michael Domingos, head of distribution, Retirement Services; Nick Cummings, director, Sales Strategy and Execution; and Matthew Asher, QPFC, business development director. Cummings and Asher will participate in the meeting planning and advisor membership committees, respectively.
“OneAmerica is excited to join the Retirement Advisor Council,” Domingos said. “We look forward to working with other industry leaders to evolve the retirement landscape to help drive outcomes for organizations and individuals.”
Lord Abbett expands collaboration with PCS Retirement
Lord Abbett has extended its partnership with PCS Retirement’s Aspire platform by incorporating their entire suite of SIMPLE IRAs and 403(b) retirement accounts.
The February 2023 conversion totaled $500 million in assets, 3,000 plans, and 14,275 participants in SIMPLE IRAs and 403(b) plans, according to a press release by Lord Abbett. The Aspire platform allows Lord Abbett to extend its distribution to the full suite of workplace savings.
“We are excited about deepening our partnership with PCS Retirement, which will create greater opportunities for growth,” said Stephen Dopp, Lord Abbett’s national director of retirement. “After a successful conversion of Prime Plan retirement plans in 2017, we are thrilled to now include all SIMPLE IRAs, 403(b)s, and other retirement programs on their platform.”
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