An asset manager with nearly $900 billion in AUM is rebranding, less than a year after its parent company streamlined its own brand.
TIAA Global Asset Management
] CEO Rob Leary
, in an open letter
to clients and partners, confirms
that TIAA GAM will now go by Nuveen
]. New York City-based TIAA bought
Chicago-based Nuveen in the fall of 2014.
The Wall Street Journal reported
on the rebrand.
Leary's letter is titled "The 'New' Nuveen," and he pitches the rebrand as a way for his team to be "one global organization whose solutions span nearly every public and private asset class in every type of investment wrapper."
"Our organization will continue to maintain our deep connection with TIAA and draw on the heritage of a combined 200 years of service," Leary writes, adding that their "investment promise also remains unchanged."
Leary also confirms, the WSJ
writes, that "TIAA has no plans to sell or spin off the asset-management arm."
The asset management rebrand comes 11 months after the asset manager's parent company, TIAA-CREF, rebranded
as simply TIAA. Shortly thereafter TIAA introduced the TIAA Global Asset Management brand above Nuveen, TIAA investments, and other asset management affiliates.
Neil Anderson, Managing Editor
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