NEW YORK (April 23, 2018) – TIAA, a leading financial services provider, announced today the appointment of John L. Douglas to serve as Senior Executive Vice President and Chief Oversight and Advocacy Officer, effective May 1. Douglas will report directly to TIAA President and CEO Roger W. Ferguson, Jr., and will serve as a member of the company’s executive committee.
In this newly created position, Douglas will be responsible for TIAA’s legal, compliance, regulatory, government relations and corporate secretary functions. In addition, he will oversee risk management and governance across the enterprise.
Prior to joining TIAA, Douglas served as a partner in Davis Polk’s Financial Institutions Group, heading the firm’s bank regulatory practice. Douglas helped clients navigate bank regulations to accomplish their business goals, including acquisitions, investments and new product development. During his tenure at the firm, he also acted as a strategic legal advisor to TIAA during its 2017 acquisition of EverBank. The acquisition expanded TIAA’s existing retail and institutional products to complement the company’s full suite of retirement, investment and advisory services. In addition, Douglas has counseled industry associations and financial services companies on FinTech issues, payment systems and digital currency.
“John has been a trusted legal advisor to TIAA for many years and has provided strategic legal and risk solutions to our growing organization,” Ferguson said. “The diverse expertise John brings in legal, business, risk and compliance matters, combined with our integrated reporting structure, will serve TIAA well as the pace of change, complexity and competition in the external environment continues to accelerate.”
Previously, Douglas was General Counsel of the Federal Deposit Insurance Corporation (FDIC), where he was involved in in the major bank restructurings of the late 1980s. While at the FDIC, Douglas participated in the landmark Financial Institutions Regulatory Reform and Restructuring Act of 1989 and assisted in the organization of the Resolution Trust Corporation. He is regarded as one of the world’s leading business lawyers and has twice been named a “BTI Client Service All-Star,” a select group of lawyers recognized for exceptional service to Fortune 100 clients.
“I’m excited about the opportunity to join a company that successfully balances a rich heritage, unique mission and vision of innovation for its clients,” Douglas said. “I look forward to continuing to develop and enhance the company’s legal, risk management and compliance controls, building on a strong foundation and industry-leading reputation.”
Douglas’ appointment follows the retirement of Keith Morgan, TIAA’s Chief Legal Officer and Stephen Gruppo, TIAA’s Chief Risk Officer. Both Morgan and Gruppo will retire at the end of April.
“I also want to thank both Keith Morgan and Steve Gruppo for their dedicated service to TIAA and to our customers,” Ferguson said. “Keith and Steve have been valuable assets to our organization and we wish them the very best in their retirement, something that TIAA works hard to provide for millions of clients every day.”
Douglas is a member of the executive committee at Rising Star Outreach, a nonprofit organization with a mission to assist those affected by leprosy in India.
He holds a J.D. from the University of Georgia School of Law and a B.A. in Economics from Davidson College.
TIAA (www.tiaa.org) is a unique financial partner. With an award-winning track record for consistent performance1, TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $1 trillion in assets under management (as of 12/31/20172) and offers a wide range of financial solutions, including investing, banking, advice and education, and retirement services.