Ferguson leaves Swiss Re to head TIAA Cref

Roger Ferguson has been appointed president and chief executive officer of New York-based pension fund Teachers Insurance and Annuity Association, College Retirement Equities Fund (TIAA Cref).

He takes up his new roles from April 14 at the pension fund, which caters for people who work in the academic, research, medical and cultural fields. He succeeds Herbert Allison as leader of the firm, which has more than $435 billion in assets under management. Allison is stepping down because he is retiring.

Ferguson was most recently head of financial markets at reinsurer Swiss Re, where he was responsible for its proprietary asset management unit, which managed approximately $200 billion in assets. Prior to Swiss Re, Ferguson was vice-chairman of the board of governors of the US Federal Reserve System.

Swiss Re has appointed David Blumer as a replacement for him, effective from May. He will be based in Zurich. Blumer joins from Credit Suisse, where he was CEO of asset management and a member of the executive board.

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