NUVEEN, a global asset manager and the investment manager of TIAA, will elevate its president, Jose Minaya, to the position of chief executive officer, effective January 13 2020, when current CEO Vijay Advani becomes executive chairman.
As CEO, Minaya will lead the firm’s day-to-day operations, including oversight of investment management teams and client businesses. He will help set strategy in partnership with Advani, drive key initiatives and chair the Nuveen Executive Committee. He will also engage with key clients, regulators and industry peers.
“Jose’s unparalleled drive, judgment and business acumen make him the right person to take Nuveen forward,” says Advani. “He’s been a great colleague and partner to me, and he is equally well regarded across our firm as a seasoned investor and empathetic leader.”
As executive chairman, Advani will specifically concentrate on three key growth areas: impact and ESG investing; the further development of Nuveen Labs; and growing Nuveen’s business and investment capabilities outside the US. While the firm posted positive organic growth in 2018 amid industry outflows and is on pace to do even better this year, Advani’s role is focused on initiatives that will expand opportunities for clients and the firm over the long term.
Minaya joined TIAA in 2004 after holding roles at AIG, Merrill Lynch and JP Morgan. In 2015, he became the leader of Nuveen’s Real Assets business, where he was responsible for developing the firm’s investment capabilities in real estate, agriculture, timber, infrastructure, energy and alternative credit. He was tapped to lead all of Nuveen’s Global Investments organization in 2016, added the CIO role in 2018 and was named president of Nuveen in June of this year.