TIAA-CREF Names Gene Flood to Lead Company's Diversified Financial Services Division

Recognized Industry Leader and Academic to Accelerate Significant Growth Opportunity for Company

New York, March 23, 2011

TIAA-CREF today announced the appointment of Gene Flood as Executive Vice President of Diversified Financial Services, a new division to include the company’s endowment, planned giving and life insurance businesses. Flood, who has served as a member of the CREF and the TIAA-CREF Mutual Funds Boards of Trustees and as Chairman of their Investment Committees since 2005, will report directly to Roger W. Ferguson, Jr., President and Chief Executive Officer of TIAA-CREF. Flood will start his new role effective May 2, 2011.

“Gene’s depth of experience and accomplishments are ideally suited for these important growth areas for the company,” said Ferguson. “His proven management and investment skills, combined with his long-standing institutional client relationships, will accelerate the expansion of these divisions.”

Flood, 55, has more than three decades of asset management and finance experience. Since 2000, Flood has served as President, Chief Executive Officer and Director (since 1994) of the investment advisor Smith Breeden Associates, Inc. During his tenure, the firm had substantial growth in assets under management, expanded its global institutional client base and diversified its product line. Prior to joining Smith Breeden, Flood was a Principal and Portfolio Manager at Morgan Stanley Asset Management. He also was on the faculty of Stanford University's Graduate School of Business where he taught finance.

Flood stated, “TIAA-CREF has a substantial market position in these businesses with highly experienced operating teams and extensive organizational resources. I look forward to partnering with each of the teams and their leaders to build on the company’s achievements and capitalize on what we believe are significant opportunities ahead.”

Ferguson added, “Gene has already made substantial contributions to TIAA-CREF in his Board roles. He has proven himself to be an effective leader who understands how to enhance our organization to create value.”

Gene Flood currently serves on the North American Executive Board of the Massachusetts Institute of Technology’s Sloan School of Management. He has a B.A. in Economics from Harvard University and a Ph.D. in Economics from the Massachusetts Institute of Technology.

Flood resides in North Carolina with his wife, Paula.

About TIAA-CREF
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $453 billion in combined assets under management (as of 12/31/10) and provides retirement services to the academic, research, medical, governmental, and cultural fields.

Media Contacts:
Chad Peterson, Director, Corporate Media Relations
cpeterson@tiaa-cref.org, 704 988-6811 Cell: 917 715-9083

Abby Aylman Cohen
Media Relations Manager
aacohen@tiaa-cref.org, 212 916-4381 Cell: 917 596-4758

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