Thasunda Brown Duckett: CEO of TIAA
Thasunda Brown Duckett (born July 22, 1973) is an American businesswoman currently serving as the president and chief executive officer (CEO) of The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA, formerly TIAA-CREF), a retirement services and investment firm. She was the CEO of Chase Consumer Banking, a division of JP Morgan. She was announced as the President and CEO of TIAA in November 2021.
Her appointment made her one of two Black female CEOs in the Fortune 500 (along with Rosalind G. Brewer of Walgreens Boots Alliance)—and just the fourth ever. TIAA also became the first Fortune 500 company to have two Black CEOs in a row. Duckett succeeded Roger W. Ferguson Jr., the CEO of TIAA from 2008 to 2021.
The appointment makes her one of only two Black women CEOs of Fortune 500 companies (along with Thasunda Duckett)
TIAA is the first company in Fortune 500 history to have two Black CEOs back-to-back.
Early Childhood
Thasunda Brown Duckett was born in Rochester, New York. Her Dad worked for copier manufacturing giant Xerox in its warehouse and shipping operations in New Jersey before downsizing at Xerox compelled the family to move to the Dallas-Fort Worth area.
Her parents used to tell her:
“If you have strong character, then you’re going to do your very best. And if your best is a B, if your best is a C, then that’s your best.”
When I worked at Fannie Mae, I immediately maxed out my 401(k) before I got my first check. That comes from understanding my parents’ story. My father worked for Xerox all these years and he only had a pension, which was like nothing. It was rough. I had no idea how hard it was for my parents until we talked about it. 1
You RENT your title, but you OWN your character.
She holds a bachelor’s degree in finance and marketing from the University of Houston and an MBA from the Hankamer School of Business at Baylor University.
Early Career: 1
After securing a college internship at Fannie Mae, she joined the lender and rose through the ranks. She started at JPMorgan Chase in 2004, and has held management roles in affordable lending, home lending and mortgage banking. Before her current role, she was C.E.O. of Chase Auto Finance
CEO, Chase Consumer Banking at JP Morgan
At Chase, Duckett oversaw a banking network with more than $600 billion in deposits, 5,000+ branches, 16,000+ ATMs and 50,000 employees serving 25 million households nationwide. She also drove Chase’s development of new tools, products and thought leadership to build financial health and wealth for consumers.
Under Duckett’s leadership, Chase underwent a digital and physical transformation that contributed to its ranking as #1 in customer satisfaction by J.D. Power, #1 for its mobile app, and the #1 most visited online portal among U.S. retail banks. She undertook Chase’s first major branch expansion in 10 years to add 400 new branches in 20 new markets over five years.
Duckett was the executive sponsor of JPMorgan Chase’s Advancing Black Pathways program, aimed at helping Black Americans close historical achievement gaps in wealth creation, educational outcomes and career success.
Thasunda Brown Duckett is among the 16 strong black women who inspired James’ first shoe for women, the HFR x LeBron 16. In 2022, Duckett was recognized by Fortune Magazine as one of the most inspiring CEOs on the Fortune 500.
Thasunda Brown Duckett led TIAA during a 2021 that yielded 628% more profit than the year before.
Philanthropy
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. She is passionate about helping communities of color close achievement gaps in wealth creation, educational outcomes and career success.
Directorship
- Director of Emerging Markets at Fannie Mae (Former)
- NIKE, Inc., Brex Inc., Robert F. Kennedy Human Rights, Sesame Workshop, National Medal of Honor Museum, Economic Club of New York, University of Houston Board of Visitors and Dean’s Advisory Board for Baylor University’s Hankamer School of Business.
Board of Advisor
- Historically Black Colleges and Universities (HBCUs), The Business Council, Business Roundtable and the Committee for Economic Development of The Conference Board.
She is also a member of the Executive Leadership Council, Delta Sigma Theta Sorority, Inc. and Jack and Jill of America, Inc.
Awards
- Fortune’s Most Powerful Women to Watch - 2020, 2021
- Fortune Most Inspirational CEOs on the Fortune 500 - 2022
- American Banker magazine - 7th Most Powerful Woman in Banking.
Personal Life
Thasunda Brown Duckett lives in Connecticut with her husband and they have four children.
Thasunda Brown Duckett’s profile is part of our Black Excellence Series.
