and his team may be poised to make yet another big acquisition, though not in the mutual fund business.
| Roger Ferguson|
President and CEO
New York City-based TIAA
] (formerly known as TIAA-CREF) "has been in exclusive negotiations" to buy Jacksonville, Florida-based EverBank
for $2.5 billion, Lauren Hirsch and Olivia Oran of Reuters
and the Wall Street Journal
also covered the news.
focuses on online and mobile banking, yet it also has physical offices, a wealth management arm, and an online brokerage. TIAA also has an online bank, four-year-old TIAA Direct.
TIAA's acquisitions in recent years include: Chicago-based mutual fund shop Nuveen
and retirement plan industry software developer Envisage
in 2014, and roboadvisor MyVest
earlier this year.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now