TIAA-CREF Appoints Lindy Sherwood President of Kaspick & Company

Financial Services Veteran to Lead Continued Growth of the Company’s Planned Giving Business

New York, May 12, 2011

TIAA-CREF today announced the appointment of Lindy Sherwood as managing director and president of Kaspick & Company, its wholly-owned investment management firm that specializes in planned gift assets and mid-size endowments. Sherwood will start on May 23 and report to Gene Flood, TIAA-CREF’s executive vice president of Diversified Financial Services.

Sherwood is replacing Michael Kahn, who has been appointed managing director, corporate strategy and development at TIAA-CREF, a newly-created position.

Sherwood is joining Kaspick from Northern Trust, where she managed a private client wealth management region for Northern California. In that capacity, she oversaw investment management, private and business banking, trust and estate planning and financial consulting services. Prior to that, Sherwood held leadership roles at U.S. Trust, Charles Schwab and Citicorp and has accumulated more than 30 years of experience in financial services.

Gene Flood stated, “Lindy brings a wealth of experience and a proven track record of growing businesses in the financial services industry. Kaspick has seen strong momentum in the marketplace with several new client engagements including the Carnegie Foundation for the Advancement of Teaching. Lindy is the right leader to build on this success and take the business to its next phase of growth.”

Sherwood said, “Kaspick’s market-leading position, exceptional client service and mission to serve the needs of the non-profit sector make this a compelling opportunity for me. I look forward to working with Gene and all of the professionals at Kaspick to meet the critically important planned giving and endowment needs of our clients.”

The Kaspick investment team has developed a solid 20-year investment performance record at portfolio, asset class and manager levels. The company has set the national standard for excellence in providing planned giving services to many of the nation’s pre-eminent non-profit institutions, in addition to providing outsourced chief investment officer services to mid-sized endowments.

Sherwood resides in Redwood City, California, and will be based in Kaspick’s Redwood Shores office.

Endowment management and planned giving are areas of strategic importance for TIAA-CREF. In addition to Kaspick & Company, the company’s endowment management businesses include Covariance, a provider of outsourced chief investment officer services to nonprofits with assets under management of $100 million or greater and TIAA-CREF Trust Company FSB, which provides institutional and private asset management services for small endowments.

About Kaspick & Company
Kaspick & Company is an investment firm that was founded in 1989, with roots in the college and university endowment world. It became a wholly-owned subsidiary of TIAA-CREF in 2006. The firm specializes in the management of planned gift assets and mid-size endowments. Kaspick manages more than $4 billion for many of the leading educational, medical and religious organizations in the nation.

For more information about Kaspick & Company, visit www.Kaspick.com.

About TIAA-CREF
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $476 billion in combined assets under management (as of 3/31/11) and provides retirement services to the academic, research, medical, governmental and cultural fields.

Media Contact:
Abby Aylman Cohen, Media Relations Manager
aacohen@tiaa-cref.org212 916-4381 Cell: 917 596-4758

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