It wasnt until she happened to deliver a market presentation at a 2004 conference in New York that she was approached by JPMorgan executives in attendance. I'm sharing this news She and JPMorgan Chase are encouraging African-American women to take a savings and investment pledge as part of a financial empowerment program. At corporate events, such as branch openings or her prized financial literacy campaign (Currency Conversations) she helped roll out this year with Essence, Duckett is a main attraction. Now she's become one of JPMorgan Chase's most visible executives, using the lessons of her past to help guide the bank's massive branch expansion. In September 2016, Duckett was named to replace Sommers. Though Brown had worked hard for decades providing for his family and cutting hair for neighborhood boys, he hadnt delved into the nuances of high corporate finance leadership. He and his wife, Rosie, struggled to raise their three children (Duckett and her two older brothers), but he found steady work driving and loading trucks for companies including Xerox. 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November 9, 2022 @ 1:30 pm - 2:30 pm. A sudden job loss forced the family into a cross-country relocation to North Texas where they started over. "I have so . She worked with different constituencies, including Native American communities, to access down-payment assistance, grant and work programs that put people on the path to homeownership. Equal Housing Lender. Ducketts duties will be expanded from Chief Executive Officer of Chase Consumer Banking, a division of JP Morgan, to include her Operating duties. Du kan ndra dina val nr som helst genom att klicka p lnkarna "Integritetspanel" p vra webbplatser och appar. Before joining Chase in 2004, she started her career at Fannie Mae in 1996, helping to lead affordable housing initiatives for people of color. Duckett grew up in a family that faced economic challenges. Duckett says she is driven to improve educational and life opportunities for young girls of color. Technology. When she was growing up, Thasunda Duckett's family sometimes struggled to buy groceries. 2023 Fortune Media IP Limited. New York, NY. Sekou Kaalund, a Chase managing director and head of Advancing Black Pathways, credits Duckett with sharing her own personal history and her career path to mentor those enrolled in the program. "East, West and Southern Africa account for a staggering 66% (US$832 billion) of a global mobile money market valued at US$1.26 trillion. If you give all of your energy, commitment and passion to your life, you will almost certainly have a fulfilling professional and personal life journey. All Rights Reserved. A year and a half after taking over TIAAwith its nearly $1.2trillion in assets under managementDuckett has steered the investment firm to record-high operating margins. This week, we're sharing a previous interview with one of my mentors, Thasunda Brown . From an early age, Thasunda Brown Duckett's father taught her to shoot for the moon because even if she missed, she would be amongst the stars. Visit the redesigned Investment Finder to browse pre-defined categories and compare with advanced filtering. I have to believe there will be better days ahead of us than the environment that we live in today, she says. NEW YORK, Feb. 25, 2021 /PRNewswire/ -- TIAA, a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions, named. I was the Director of Affordable . automatically this yearand prior years, Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, New York, NY 10017, Opens in new window, need to login to access the page, Check the background of this firm on FINRAs BrokerCheck, FINRA Manual and other related FINRA information, Do not sell/share my personal information, Confidentiality for victims of domestic violence, TIAA-CREF Individual & Institutional Services, LLC, Statement of Financial Condition. I chose Fannie Mae because I grew up in the company, she says. Teachers Insurance and Annuity Association of America is domiciled in New York, NY, with its principal place of business in New York, NY. Overseeing more than $600 billion in deposits, Duckett is also spearheading JPMorgans branch expansion, which since its launch in 2018 has picked up steam: The bank plans to open 400 new locations, with about a third in low- and moderate-income areas. I said to T, Do your parents know what youll do for a living? Smith said. Published: Dec 08, 2022 4 min read. We know our history, we know what was lost, we know the issues., But part of the opportunity is to say thats not who you are, she adds. Duckett draws inspiration from trailblazers before her, who first entered corporate America and creating a path for her.I like to say I am my ancestors wildest dreams, she said. She is alarmed by a statistic that she regularly cites in interviews. Nearly 30% of the new branches are destined for lower-income communities of need, in areas banks have traditionally left to alternative, sometimes predatory financial services that may worsen the path out of poverty for the underbanked. In September, the bank added her to its leadership team. Thasunda Brown Duckett walks in the door past the columns of party balloons installed for the occasion, and into a line of greeters bearing hugs and handshakes and slightly louder cheers. She came to TIAA from JPMorgan Chase, where she had served as CEO of Chase Consumer Banking and oversaw a network with more than $600 billion in deposits and 50,000 employees. We kicked off Schwab Volunteer week at 6:00am Saturday!!! Andrea Blackstone June 6, 2021 27234. TIAA, a Fortune 100 financial services company, has . TIAA-CREF Individual & Institutional Services, LLC, MemberFINRAOpens in a new windowandSIPCOpens in a new window, distributes securities products. Member FDIC. The median wealth of single black Americans is $200 to $300, versus $15,000 to $28,000 for single white Americans. Andrea Blackstone. The most active insiders traders include Philip H Knight, John J Donahoe, and Timothy D Cook. Pets of the Week - Meet Snoopy & Jetta. Duckett is married with 4 children. She serves on numerous boards, including that of Nike, the Robert F. Kennedy Human Rights organization, Sesame Workshop, and the National Medal of Honor Museum. She will become the second Black woman CEO to helm a Fortune 500 company currently, following the appointment. Duckett grew up in Texas and lives in Connecticut with her family. All Rights Reserved. In March 2009, I was in a dual leadership role in the Mortgage Banking division of JPMorgan Chase. We She is currently only one of two Black women running a Fortune 500 company, and only the fourth Black woman to ever helm one. All Rights Reserved. Duckett will be taking over the president and CEO job at TIAA from Roger Ferguson, who is one of just a handful of Black CEOs to lead a company on Fortune's 500 List of America's largest . The banks top executives, including CEO Jamie Dimon, step out one by one for an early-August ribbon-cutting ceremony for JPMorgans first retail location in the state. Under her leadership, TIAA is expanding its mission beyond higher education to all Americans saving for retirement. Perhaps one sign of how things have changed was three years ago, with a gesture Smith made after Duckett was promoted to retail CEO. In 2019, she was named one of Fortunes Most Powerful Women to Watch.. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. After serving as the CEO of Chase Consumer Banking for over four years, it was recently announced that Duckett will become the next CEO of the Teachers Insurance and Annuity Association of America (TIAA). All Rights Reserved. Thasunda's mailing address filed with the SEC is ONE BOWERMAN DRIVE, , BEAVERTON, OR, 97005 . 36K Followers, 1,358 Following, 1,270 Posts - See Instagram photos and videos from Thasunda Brown Duckett (@thasunda) B.B.A., Finance and Marketing, University of Houston, M.B.A., Baylor University - Hankamer School of Business. She was the first female student regent. Duckett's dad worked at a Xerox warehouse in New Jersey before losing his job and moving the family to Texas, she says. And last year, Duckett helped create, as executive sponsor, a new program within the company intended to help close the racial wealth gap. Consumer and commercial deposit and lending products and services are provided by TIAA Bank, a division of TIAA, FSB. Duckett, who made history at JPMorgan Chase last summer as the first Black woman to be named to the bank's operating committee, leads a banking network with more than $600 billion in deposits, 4,900 branches and over 40,000 employees.. As head of the bank's consumer banking division, Duckett has overseen the bank's $20 billion effort to add 400 new branches in 20 new markets over five years. I recognize it wasnt that long ago I could not exist in corporate America or in many parts of the fabric of our country. Duckett spearheaded Chases National Savings campaign, complete with new tools, products, and thought leadership to promote financial health for all consumers. See Thasunda Brown Duckett's compensation, career history, education, & memberships. TIAA Bank's client service is available 7 days a week, so you can rest assured that well be around when you need us. She is a frequent voice and face for the bank in television appearances and the news media. Duckett, shown with guests at the Currency Conversations event in Harlem, is driven to improve educational and life opportunities for young girls of color. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. This isnt always easy or even sometimes welcomed by residents. I draw a lot of inspiration to those shoulders that Im on, she toldAmerican Banker. Her new position is noteworthy for a. Terms & Conditions. Account openings and performance have more than doubled the average we see in new branches at existing markets.. TED Talks. The Harlem event captured the attention of influencers, including reality TV star Angela Simmons (right). I draw a lot of inspiration to those shoulders that Im on.. Duckett has received a wide array of accolades from financial media, including Fortune, Forbes, Barrons, American Banker, Money and MarketWatch. into a campuswide event. "I often think about the day my father asked me to help him plan his retirement, and I had to tell him, 'Dad, your pension is not enough,'" shesaid in a statement announcing her new role at TIAA. The most active insiders traders include Philip H Knight, John J Donahoe, and Timothy D Cook . NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Her rapid ascent paved the way for another big promotion in 2013, when she became head of the auto finance division. GSMA bundles North I chose Fannie Mae because I grew up in the company, she says. Thasunda Duckett, then an executive at JPMorgan Chase & Co., speaks during an investment conference in Dana Point, Calif., on Oct. 2, 2018. ( I truly appreciate everyone) Thank you to everyone that supported BPACS-DFW volunteer effort! "I have so much gratitude for all the shoulders I stand on," Duckett, who currently serves as the CEO of Chase Consumer Banking, said in an Instagram post. I, too, can someday do whatever it is that I aspire, she toldEssence. A Division of NBC Universal. When I think about who influences me, and I talk about this publicly, it is the janitors and the cooks and the secretaries who look like me who first entered corporate America that overtime allowed me to exist. She knows the experience, and consequences, of financial unawareness. It is about first relating to people. Can Artificial Intelligence Ever Achieve Societal-Level Digital Trust? Currently, she is just one of two Black women running a Fortune 500 company and the fourth ever to do so. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. It aligns with my purpose in life to inspire others. When Duckett steps into her new role on May 1, she will become the second Black woman to currently lead a Fortune 500 firm, accompanying Walgreens new CEO Rosalind Brewer on the list. It was while she was working at Fannie in Dallas and on her MBA through Baylor University that Duckett realized that her fathers struggles werent just part of the family history. I bet she gets more applause than any of them, the staffer says. Prior to joining JPMorgan Chase, Ms. Duckett was Director of Emerging Markets at the Federal National Mortgage Association, or Fannie Mae. The 30 clubs in MLB should push the use of mobile ordering and getting fans to batting practice instead of pushing out the cutoff for beer sales as games get shorter. When Thasunda Brown Duckett took over as president and CEO of financial-services firm TIAA in May 2021, she became just the fourth Black woman to ever lead a Fortune 500 company. As TIAA's CEO, Duckett leads a company whose mission is defined by financial inclusion. [5]. Brown Duckett took the role of TIAA CEO this spring. The average net worth for single African-American women is $200 while the average for single white women exceeds $15,000. I think thats a moment, there was this vulnerability of doubt, of Are you sure you want me? she says. Her parents weren't able to buy a home until Duckett was able to help them with the purchase. Ducketts instinct was to pass, she says. Duckett will succeed current TIAA CEO Roger W. Ferguson Jr., who was just one of five Black CEOs in the Fortune 500 prior to Brewer's announcement earlier this year. Amanda White March 28, 2023. She founded the Otis and Rosie Brown Foundation in honor of her parents to recognize and reward people who use ordinary means to empower and uplift their community in extraordinary ways. Within three years, JPMorgan shuffled its retail business by spinning out wealth management and investment services to a new unit under former consumer banking CEO Barry Sommers. Representing financial heavyweights, medical pioneers, and dynamic storytellers, the newest additions to the 2021 Forbes List of the World's Most Powerful Women are already formidable forces in their own right. . Each is solely responsible for its own financial condition and contractual obligations. As TIAA's new CEO, Duckett will not only be the second Black woman currently leading a Fortune 500 firm, but she will also be just the fourth Black woman in history to serve as a Fortune 500 CEO. There is so much fear, especially in the black community when it comes to banks and other industries, she says. From students to low-to-moderate income, to affluent, we want to be where the community lives, works and shops, Duckett says. She has penciled in special plans and goals for her four children, including two she and her husband adopted. The mood music about AI is starting to fundamentally shift. Its a Wednesday afternoon when a luxury coach bus pulls up outside JPMorgan Chases new Chapel Hill branch in North Carolina. The darkly tinted windows keep out prying eyes, but the throng of employees and local VIPs knows whos arrived. Her dad, Otis Brown, worked for Xerox in New Jersey as a truck driver. Prior to her current role, Duckett, who has a bachelor's degree from the University of Houston and an MBA from the Hankamer School of Business atBaylor University, was the CEO of Chase Auto Finance, SVP for emerging markets and affordable lending, and SVP in home lending. For us, this is not an effort. She has also held management roles in affordable lending, home lending and mortgage banking. And as I say that, our head of retail banking. Art Dyson, the iconic hairstylist who developed thermal blow-drying after leaving the military, Chicken stock for bubble butts, this is the dangerous road plied by Congolese women [Video]. After graduating from college, Duckett says she received multiple job offers, but decided to go with Fannie Mae, even though it was the lowest. It was a story he first heard nearly a decade ago when both were honorees at an industry function recognizing top African-American achievers under the age of 40. Nike executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Additionally she is on the Board of The Robert F. Kennedy Human Rights Foundation. Thasunda Brown Duckett, the top Black executive at JPMorgan Chase & Co., is leaving the bank to become CEO of retirement-services provider TIAA. Duckett's keys for leading during crisis. We know there are structural reasons for this, Duckett says. A new coordinator and several new players have been added to a defense that needed a rebuild. Smith went to Ducketts office that day to celebrate her advancement, when a question came to him. The Currency Conversations initiative is an outgrowth of the firms new Advancing Black Pathways program for which she is the executive sponsor. Education is the core, but its how you deliver the education, Duckett says. By Thasunda Brown Duckett Dec 1, 2022 Experience President & CEO TIAA May 2021 - Present2 years President and CEO of TIAA, a Fortune 100 provider of secure retirements and outcome-focused. 2023 Fortune Media IP Limited. I could see she was a talented businessperson and people like to follow her.. There are 19 executives at Nike getting paid more, with JohnDonahoe having the highest compensation of $53,500,000. Her life changed when she enrolled in a program called Inroads that focuses on getting minorities into a business.
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