TIAA, the New York-based financial services provider with a major Charlotte presence, said Wednesday that it named Lori Fouché head of retail and institutional financial services, effective Aug. 7.
The position is a new role that oversees the businesses which serve retail and institutional clients. The firm said the move will enhance efficiency, reduce complexity and provide a "more seamless customer experience."
Fouché, who had been head of individual solutions at Prudential Financial, will be based in New York, reporting to CEO Roger Ferguson Jr.
TIAA said the appointment coincides with the the decision by Kathie Andrade, CEO of retail financial services, to "pursue new opportunities," and the retirement of Ron Pressman, CEO of institutional financial services.
Both will help with the transition. TIAA's services include managing retirement assets for university employees and other nonprofits and a banking business expanded through its 2017 acquisition of EverBank. The firm said last year it had more than 3,000 employees in Charlotte.