The Diversified Business Committee is a standing committee of the Board of Trustees ("Board") of TIAA ("Company"), established to assist the Board in fulfilling its oversight responsibilities relating to the Company’s businesses that were created or acquired to exploit the Company’s affinity strategy (the "Business(es)"). Initially, the Businesses overseen by the Committee will include Kaspick & Company, LLC, Covariance Capital Management, Inc., TIAA-CREF Trust Company, FSB and TIAA-CREF Life Insurance Company. Other diversified businesses, and operating businesses not intended for investment purposes, acquired or established by the Company will also be overseen by this Committee.
The Committee’s responsibilities include:
The Diversified Business Committee’s responsibilities and powers as delegated by the Board are set forth in this charter. The Committee relies to a significant extent on information and advice provided by management and independent advisors. Whenever the Committee takes action, it exercises its independent judgment on an informed basis that the action is in the best interests of the Company.
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