A veteran of General Electric who headed up its real estate capital division has joined TIAA-CREF as its chief operating officer.
According to an announcement, the New York-based TIAA-CREF has appointed Ronald Pressman as its COO. He will begin working for the retirement fund and private equity real estate investor starting 30 January. Pressman will report directly to TIAA-CREF’s chief executive officer Roger Ferguson.
In his newly created role, Pressman will be responsible for spearheading the firm’s operational strategies. He will partner with the executive management team to improve performance and lead new business initiatives to build upon TIAA-CREF’s position in the not-for-profit sector.
“Ron’s experience building and leading businesses will accelerate our efforts to capitalise on the sizeable market opportunities in front of us,” said Ferguson in a statement. “He brings additional strength to the leadership bench to ensure we provide the best service to our clients, while helping drive growth and efficiencies.”
Prior to joining TIAA-CREF, Pressman worked at an array of positions at GE. During his tenure at the global conglomerate, Pressman most recently served as president and CEO of GE Capital Real Estate and as a director on the GE Capital Services and GE Capital boards. Previously, he served as president and CEO of GE Asset Management and chairman, president and CEO of GE Employers Reinsurance Group. Mark Begor has been serving as president and CEO at GE Capital Real Estate since 1 April 2011.
“TIAA-CREF has a strong track record of success and a great future ahead. There is no place I’d rather be than right here helping to lead this company as we embark on the next phase of our future,” said Pressman.