Images- Facebook. The bridge to racial equity starts with financial health Thasunda Brown Duckett President & CEO at TIAA Published Feb 18, 2021 + Follow Over the past year, I've had many conversations with my. Paul Morigi | Getty Images Entertainment | Getty Images, JPM consumer banking CEO: We must make capital accessible to everyone, Meet 6 trailblazers in the NFL, Coast Guard, Hollywood and more, How to stop doubting yourself at work, according to Admiral Linda Fagan, 5 powerful women share their best-kept secrets to success, 26-year-old lives on $27K in Seattle: I'm 'grateful that I'm making that much', Meet Sandra Douglass Morgan, the only Black female president in the NFL. We know there are structural reasons for this, Duckett says. Fireside Chat with TIAA CEO Thasunda Brown-Duckett. Prior to her current role, Duckett, who has a bachelor's degree from the University of Houston and an MBA from the Hankamer School of Business atBaylor University, was the CEO of Chase Auto Finance, SVP for emerging markets and affordable lending, and SVP in home lending. Despite her success, she and her family continue to face racism. As the CEO of Chase Consumer Banking, a role she's held since 2016, Duckett has worked tirelessly to not only educate others about the importance of financial literacy, but to also diversify the pipeline of talent entering the field. 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. All rights reserved. April 4, 2019. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. "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. Her new position is noteworthy for a number. CEO, Chase Auto Finance. Ducketts rise at JPMorgan was swift. 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. 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. FORTUNE may receive compensation for some links to products and services on this website. New York, NY. 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. Thasunda Brown Duckett to lead TIAA, becoming second Black woman CEO of Fortune 500 company Jessica Guynn USA TODAY 0:00 1:24 Teachers Insurance and Annuity Association of America named. I think thats a moment, there was this vulnerability of doubt, of Are you sure you want me? she says. 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. It is about first relating to people. The Fortune 500 has been without a Black woman CEO since Ursula Burns left Xerox in 2016.. One of Wall Street's highest-profile . Thasunda Brown Duckett is President/CEO at Teachers Insurance & Annuity Association of America. Before stepping into her current role in 2016, she worked as the CEO of Chase Auto Finance, SVP for emerging markets and affordable lending, and SVP of home lending. 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. After graduating from college, Duckett says she received multiple job offers, but decided to go with Fannie Mae, even though it was the lowest. See Thasunda Brown Duckett's compensation, career history, education, & memberships. Duckett aims to be an influencer, especially among young black women who do not see many females of color in business leadership roles. February 26, 2021, 4:22 pm By Tim Glaze. 36K Followers, 1,358 Following, 1,270 Posts - See Instagram photos and videos from Thasunda Brown Duckett (@thasunda) Subscribe to The Broadsheet, our newsletter on the worlds most powerful women. "I have so much gratitude for all the shoulders I stand on," Duckett, who currently serves as the CEO of Chase Consumer Banking, said in an Instagram post. She has also held management roles in affordable lending, home lending and mortgage banking. In addition to being familiar with the company's culture, Duckett explained she also knew Fannie Mae would provide her with opportunities that aligned with her career goals. Du kan ndra dina val nr som helst genom att klicka p lnkarna "Integritetspanel" p vra webbplatser och appar. 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 TIAA group of companies does not provide legal or tax advice. Another top priority: continuing the work on financial inclusion that she pioneered as an exec at JPMorgan through efforts to reduce racial and gender gaps in lifetime savings. And as I say that, our head of retail banking. NEW YORK, Feb. 25, 2021 /PRNewswire/ -- TIAA, a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions, named. When the company was closed, her family relocated to Texas where her mom, Rosie, found a job as a teacher. As TIAA's CEO, Duckett leads a company whose mission is defined by financial inclusion. Read theTIAA-CREF Individual & Institutional Services, LLC, Statement of Financial ConditionOpens pdf. Vi, Yahoo, r en del av Yahoos varumrkesfamilj. Duckett was born and raised in a working-class family, whose breadwinner was a warehouse worker. 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. FORTUNE may receive compensation for some links to products and services on this website. From an early age, Thasunda Brown Duckett's father taught her to shoot for the moon because even if she missed, she would be amongst the stars. Smith went to Ducketts office that day to celebrate her advancement, when a question came to him. GSMA bundles North She and JPMorgan Chase are encouraging African-American women to take a savings and investment pledge as part of a financial empowerment program. 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. Consumer and commercial deposit and lending products and services are provided by TIAA Bank, a division of TIAA, FSB. 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. 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Duckett is the first female CEO of TIAA, a leading . From 2013 - 2016, Duckett was the CEO of Chase Auto Finance, one of the leading bank providers of auto financing in the country with a portfolio of more than $60 billion in assets and relationships with 75% of U.S. franchised automotive dealers. "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 billionof lifetime income and other benefits since its founding in 1918. The mood music about AI is starting to fundamentally shift. That includes Anacostia, a largely low-income, African-American community in Washington, D.C. Thasunda Brown Duckett is the CEO of Chase Consumer Banking. Thasunda Duckett, then an executive at JPMorgan Chase & Co., speaks during an investment conference in Dana Point, Calif., on Oct. 2, 2018. For 26 million households, you have to be the bank for everyone to have that number of households to choose our bank.. She makes regular media and television appearances for the bank. As local TV news cameras begin rolling, Gordon Smith, the chief operating officer, takes the floor to explain why theyve come. 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. 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). She also is ranked 10th on Fortune's . Lunch or dinner could be a serving of red beans, rice and spaghetti. 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. I recognize what makes our country great is the ideal of a more perfect union. Her rapid ascent paved the way for another big promotion in 2013, when she became head of the auto finance division. A Division of NBC Universal. At the helm of Consumer Banking, she has helped steadily increase earnings ($32.4 million in net income in 2018, or $9.04 per share, up from $24.4 million/$6.35 EPS in 2017) and a rising return on equity (13% last year). Duckett, who made history at JPMorgan Chase last summer as the first Black woman to be named to the bank's operating committee, leads a banking network with more than $600 billion in deposits, 4,900 branches and over 40,000 employees.. As head of the bank's consumer banking division, Duckett has overseen the bank's $20 billion effort to add 400 new branches in 20 new markets over five years. , Duckett founded and chairs The Otis and Rosie Brown Foundation to continue the legacy of her parents. Known as T to friends and colleagues, shes a regular visitor to the branches where most of her 48,000 employees work and 26 million households bank. In May 2021, Duckett became only the third Black female CEO of a Fortune 500 company when she was named top executive of TIAA. She is alarmed by a statistic that she regularly cites in interviews. Each is solely responsible for its own financial condition and contractual obligations. She soon found out that she was going to work in the mortgage business, something she could relate to. Andrea Blackstone. . Duckett credits much of her success to finding her career passion early on. She founded the Otis and Rosie Brown Foundation in honor of her parents to recognize and reward people who use ordinary means to empower and uplift their community in extraordinary ways. Focus and stay locked in on the task: Be empathetic, think about others, and trust your ability Be decisive: Use analytics and be bold Let go: Empower your team, acknowledge this is a team sport Beyond the pandemic, Duckett is leading TIAA through a critical time when the purpose of a corporation is shifting and more corporate transparency and . After serving as the CEO of Chase Consumer Banking for over four years, it was recently announced that. The executive says her humble upbringing is what inspired her to pursue a career in the financial field. A primary aim for the new nationwide Currency Conversations program is to promote greater financial acumen and knowledge for communities of color for young black women in particular. He didnt know it was for him, she says. She cares about vulnerable populations, and elderly populations, both the banked and unbanked, said Kaalund, who was a member of Chases corporate and investment bank at the time. And the second-highest-ranking executive at one of the worlds largest banks called Brown to thank him for putting his daughter on the path that led her to Chase. She discovered he had spent years without establishing and adequately contributing to a 401(k) plan, because he wasnt aware he was eligible. We kicked off Schwab Volunteer week at 6:00am Saturday!!! But Fannie is a secondary-market business; Duckett wanted a closer connection to customers. All Rights Reserved. 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. 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. Duckett's dad, she says, worked at a Xerox warehouse in New Jersey before losing his job and moving the family to Texas. Last updated: 13 September 2022 at 5:02pm EST. Duckett has received a wide array of accolades from financial media, including Fortune, Forbes, Barrons, American Banker, Money and MarketWatch. I draw a lot of inspiration to those shoulders that Im on.. Thasunda Duckett. I, too, can be on the Operating Committee. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. In March 2009, I was in a dual leadership role in the Mortgage Banking division of JPMorgan Chase. She went to the University of Houston, four hours south of Arlington, earning a degree in finance and marketing which led to the start of her career in finance, at Fannie Mae in 1996. She started work at JP Morgan in 2004 and has risen through the ranks to become the CEO of Chase Consumer Banking. Thasunda Brown Duckett is President and Chief Executive Officer of TIAA, a Fortune 100 provider of secure retirements and outcome-focused investment solutions to millions of people working in higher education, healthcare and other mission-driven organizations. 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. TIAA Bank has tapped JPMorgan Chase 's head of consumer banking, Thasunda Brown Duckett, to succeed longtime president and CEO, Roger Ferguson, Jr . Can Artificial Intelligence Ever Achieve Societal-Level Digital Trust? In North Texas, they started over in an apartment using crates as makeshift furniture. Currently, Duckett lives in Connecticut with her husband and four children. She was devastated for her 10-year-old son who in the last school year was called the N-word by a white classmate bringing back the pain of hearing of her fathers own childhood. She lost out to a perfect candidate that Fannie chose for the position, Duckett says but Fannie decided to open up a second spot to fit her in. NCAA Coaching Carousel: Wichita State Fires Isaac Brown, Stocks This Week: Buy Tennant Company And Brown & Brown, From Thasunda Brown Duckett To BioNTechs zlem Treci: Meet The Newcomers On The Worlds Most Powerful Women List 2021, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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. 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. For us, this is not an effort. The darkly tinted windows keep out prying eyes, but the throng of employees and local VIPs knows whos arrived.