Recognition demonstrates TIAA-CREF’s commitment to ethical leadership
New York, March 9, 2015 — TIAA-CREF, a leading financial services provider, today announced its recognition as a 2015 World’s Most Ethical Company® by the Ethisphere Institute.
The World’s Most Ethical Companies® designation recognizes those organizations that have had a material impact on the way business is conducted by fostering a culture of ethics and transparency at every level of the company. The Ethisphere Institute is the global leader in defining and advancing the standards of ethical business practices.
“TIAA-CREF exists to serve our customers and to provide outcomes that truly matter to them,” said Roger W. Ferguson, Jr., president and CEO of TIAA-CREF. “It is our mission to serve, our ability to perform, and the values we embrace that make us a different kind of financial services company. By holding ourselves to the highest standards of conduct and integrity, we all contribute to safeguarding our reputation and our future success.”
"TIAA-CREF’s commitment to high ethical standards goes beyond mere words and is embodied by our employee population,” said Janice Innis-Thompson, chief ethics officer of TIAA-CREF. “Our Code of Business Conduct and the shared values that guide our employees allow for personal ownership and accountability to these standards. This code is not a series of policy prescriptions but instead embraces the basic principle of 'doing the right thing.'"
“The World’s Most Ethical Companies® embrace the correlation between ethical business practice and improved company performance. These companies use ethics as a means to further define their industry leadership and understand that creating an ethical culture and earning the World’s Most Ethical Companies® recognition involves more than just an outward facing message or a handful of senior executives saying the right thing,” said Ethisphere’s chief executive officer, Timothy Erblich. “Earning this recognition involves the collective action of a global workforce from the top down. We congratulate everyone at TIAA-CREF for this extraordinary achievement.”
The World's Most Ethical Company® assessment is based upon the Ethisphere Institute’s Ethics Quotient™ (EQ) framework developed over years of research to provide a means to assess an organization’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics. The EQ framework and methodology is determined, vetted and refined by the expert advice and insights gleaned from Ethisphere’s network of thought leaders and from the World’s Most Ethical Company® Methodology Advisory Panel .
Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).
The full list of the 2015 World's Most Ethical Companies can be found at http://ethisphere.com/worlds-most-ethical/wme-honorees/ .
TIAA-CREF (www.tiaa.org) is a national financial services organization with $851 billion in total assets under management (as of 12.31.14) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere Magazine and The World’s Most Ethical Companies Executive Briefing. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs. More information about Ethisphere can be found at: http://ethisphere.com/ .