What happens next? Lets see how she will go about collecting her fake awards after this NBC article and the famous quote T loves money.
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All the extravagant spending is about to bite TIAA's leadership in the you know what.....
This was said in another post, but I wouldn't want my name anywhere on those private flight logs when the dust settles. The regulators are going to have a field day with TIAA leadership and it won't be anywhere they can hide. I just hope during this process that it doesn't ki-l off this great company and that we can survive.
Looks like NBC and SEC has all of T's receipts...............
Think about the survey scores though. Gotta keep the facade up!
If found at fault, the activity could possibly be deemed egregious based on sheer volume, the systemic and wanton application, the existence prior similar findings, and it was not self-reported. Aggravating factors can lead to increased assessment of penalties. I’m taking the over.
Will the next SEC fine be more or less than the 97 million fine? Might as well have some fun with this…
I am a Financial Consultant and I have reported the same concerns outlined in the article to my manager. My manager didn’t disagree with my feedback but said they have a family to provide for and needed to keep upper management off their back. It’s terrible that this is the culture at our once great company.
I recently chatted with a colleague who has a long-standing history of over 30 years with the company and is friendly with some board members. T is anticipated to hand in her resignation next week. Let's hope for the best!
Wonder how Teflon T will wriggle away from this one. All fingers point to K and D, sorry guys you get left holding the bag this time while she parties the month away in Paris. Amazing timing to be away at the games while all this press goes down. Timing is EVERYTHING. Wonder if she packed a suitable designer outfit to jump on a zoom call to tell the board “Nothing to see here.” How does the board justify another jump in pay next year we all wonder. I hope PR is reading this and thinking, hrmmm I wonder how many of these people have sent this site to board members, institutional clients, and K’s campaign – because my guess is that they have. T does like her money after all, and many of us liked TIAA before we got an extra T.
It’s not weird your browser tracks you. Google pulls that tracking into an algorithm. If you have gone to a page with TIAA it’ll push the article to you depending on what you were searching for or whatever.
- Every client is entitled to make the decision regarding TIAA Traditional for themselves, based on their own unique situation and preferences with full disclosure of all the trade-offs.
The patriarchal attitude that TIAA has held over their clients money is one of the problems. Like an overbearing parent who chooses their child’s major for them, I believe that TIAA has a fondness for their clients but they do not respect them as peers. It’s not OK to decide for everyone that Traditional is best for everyone just because it’s good more often than not. You gotta give the client input and an honest fact set to make an informed choice.
- TIAA senior management is overpaid and has lost their way
- TIAA Traditional is an excellent product for guaranteed lifetime income and including it in retirement plans is in the best interest of almost all participants
- TIAA Traditional drives the economic engine of the enterprise
- All three are true at the same time
It's getting weird. I clicked my Google icon and the first thing that popped up is and article from NBC about the whistleblower and TIAA. I definitely wasn't searching for it.
Allegedly T is not in the good graces of the Board currently. Sounds like they asked her to repay the expenses she incurred for traveling via private jets.
The elementary level strategy that the EC introduced a few years to consolidate businesses has now backfired big time. The question that I would be asking is where do we go from here.
2 of the 3 business were already on life support prior to this article. The 3rd business (Wealth) will be on the life support list too once all the fines, settlements and restrictions from regulators come down.
If participants start pulling money from TIAA Traditional, the company could fail as TIAA would have to start selling long-term investments from the GA at significant losses. This is the same thing that took SVB down.
This is why it is so critical that "T" needs to be present instead of enjoying badminton at the Olympics.
@fnq+1tObEQII nah, she can use some of her $18Mil to pay the Denver staff their severance packages or the legal fees for that lawsuit. Not giving raises or bonuses this year or last year while she and 4 or 5 others got PAID $45M is downright atrocious and we deserve better.
Board needs to fire her and her cronies. I think Ray B. in Frisco would be a better CEO. Heck if he was the CEO I’d move to Texas in a heartbeat. Maybe…
The Board needs to setup an emergency meeting and fire "T" ASAP.
Going to Olympics isn't an issue, but staying when your house is on fire is insane. What CEO or Business Leader would pull this stunt? I have encountered many leaders that have cut short international vacations due to business emergencies.
T now has access to a private jet, so there is no excuse to be an absent leader.
First, if she’s in Paris, I hope not a single penny of it is a TIAA expense. Second, when presented with a revenue generating opportunity that is almost too good to be true, wouldn’t an experienced CEO check it out with legal and compliance??!! Afterall, Traditional and TIAA Real Estate may be suitable assets within a class, but neither is really its own asset class, worthy of guaranteed inclusion in all scenarios.
Next thing you know they need to make cuts to the severance package for Denver to pay for the pending lawsuit. lol
Thausnda leads by example. I could care less too I’m not interrupting my time off for any of this orgs self inflicted bullsh-t.
Thasunda needs to realize that job titles come and go, but they are rented. You don’t own them. They will always fall away. Own your character.
T in Paris? If that’s not the most “T” thing I ever heard. The fiefdom is under siege and the Queen is no where to be found, literally.
Better settle this one quick. This is the third time something of this nature has come up over the past few years. The first two stung a little bit financially, but were basically legal mosquitos that proved just to be a little annoying. The third time? The NYDFS, DOJ, etc., etc. may be starting to take notice. Maybe Wyclef can make a song about it.
Omg a person spent money to go to the Olympics! How dare she. Come on give me a break there is enough things to be mad or shocked about with this company. Fake outrage over going to the Olympics isn’t one of them.
This is a Failure of Leadership.
@hgs+1tObEQII T is in Paris at the Olympics. Kid. You. Not.
I can’t believe T had 2 of her directs send that email in regards to the article! Is she not going to address it at all? Some “leader”
Interns will get a clap out while the rest of us get clapped.
Bracing myself for the big send off of our interns we overpay for and pamper the sh-t out of. Maybe they should make some friggin calls.
This is all sad... but if you are getting caught doing this sort of thing 3 times in about 5 years that's a trend of some bad behavior. If you can run a profitable business doing things the right way, find someone who can
Every day we see more and more how the company doesn’t care about us, or the clients, or its purported values.
This is a Failure of Leadership.
Being notably absent in any and all meetings for YEARS. Scaring and conning people into signing up for some ghostwritten shameless self-promoting ‘newsletter’ that no one cares about or values.
This is a Failure of Leadership.
A new flop rap song marketing scheme, spending millions with whomever you want to be like or gain clout with.
This is a Failure of Leadership.
A ridiculous dress, a poorly-timed party in Martha’s Vineyard, a dozen narcissistic posts on the intranet about how you are the best person ever, a dozen more posts bragging about winning awards that don’t point out the actual reality of life at TIAA.
This is a Failure of Leadership.
Putting your profits over people while smiling and telling them to trust you.
This is a Failure of Leadership.
Secret layoffs by the hundreds, ruining the futures of the same employees who have been loyal to the company and its ‘values’… (wasn’t there a People Pledge?)
This is a Failure of Leadership.
Flying around the world for your Instagram, being the worst steward of the company and clients’ money. Expensive limos and drivers and parties and meals; while wagging your finger at the rest of the company that it’s their fault and they can’t spend so much money.
This is a Failure of Leadership.
Touting a philosophy of inclusion and diversity and acceptance while reaping millions from a state that values none of those things while forcing your people to move there.
This is a Failure of Leadership.
Closing Denver to solve the company’s problems, but really just making it worse in the long run. Just kick the can down the road until the road ends. You’ll be long gone from here anyways.
This is a Failure of Leadership.
When will the board, the public, the regulators, the institutions wake up and realize what is going on here?!
We are at a point where no one works for the company. We’ve realized our fate and our value to the machine. Morale is in the gutter, regardless of what your surveys say. We’re here for a paycheck. The ones still touting the greatness of this cesspool are the ones that you should be wary of.
This is a Failure of Thasunda. You have failed us all.
In other words, It’s a T thing. But yeah, nice hat and shoes - everyone sees you in your clothes, emperor.
I could give a rats a-s who is lurking. I hope they are you all su-k. Been sc--wing with people and this org. Dangling that damn carrot for years and then sc--wing your employees left and right. Your bullsh-t decisions and spending got you here. Dear board now is the time bring a leader who is respected and present would also be nice.
T doesn’t like to get her hands dirty. Only likes the praise and admiration. Remember the time she called employees the ‘studio audience’ during one of the town halls where you aren’t allowed to ask questions. And you can only attend by invite. Good grief ! The cr-p we have been dealing with.
T isn’t speaking to us because she knows it will come back to haunt her - video, audio, email or any other medium. She’s going to let her cronies take the fall just like TIAA is attempting to distance itself and say Morningstar is the bad actor, not TIAA.
Classic deny, deny, deny tactic. People aren’t stupid (or maybe they are?!) and can see right through it.
Back in 2021 we were notified about the SEC fine, why this time around it was not shared with us. 90 million is no joke. I know management is lurking around these posts, so much for transparency.
why isn’t our leader speaking to us now? this is a HUGE deal and only her minions are running the calls. That’s the difference between T and Roger.
When you show people who you are they believe you. T shows everyday what really matters to her it’s not TIAA or its valuing employees. It’s that simple.
The culture of TIAA has definitely degraded with this new "leadership team". While busy cost cutting, there are new initiatives, new layoffs, new budget cuts, no travel - and the leadership still flies in first, works from home and rides in limos of specific colors only. Overall I feel there is a great loss of respect in T and her immediates, as well as, the ability for the firm to weather this out intact. Secrets, NDA projects., it is all too much.
Reading is fundamental. Did people read the article. Some of the stuff date back to 2016. Roger didn’t set the company up for the future. You can love him as much as you want but the facts are the facts. TIAA is so behind from every standpoint compared to competitors. (tech, product)
Look pass your hate and focus on BUSINESS and the facts
No leader comes in wanting to make tough changes. They make changes based on what they inherited and how the coolant is performing
To respond why everyone loved Roger: He wasn’t an attention seeking egotistical, and selfishly focused on the causes that would elevate him. Roger was down to earth, he was humble, and our clients would line up to meet with and speak with him. He flew commercial, mostly coach, and didnt want the hoopla that T believes she is entitled to as a CEO. He fell on the sword, he handled the tough discussion, he LED THE FIRM and didnt act like Oprah at every chance. He was respected, and he was an excellent listener and truly embodied the bones of this great firm which is to serve our clients. He would listen, could handle any situation, and did not require the relentless briefing that T requires only to ignore it all anyway. Roger was a LEADER not a manager. When you LEAD people follow. People are not following this leadership team. They are working for their paycheck.
I don’t see why everyone loves Roger and puts him on a pedestal. He may have been a man of the people but his leadership (and his predecessors’ leadership) is why TIAA is in the position it’s in and why T and her cronies have double down on nefarious business practices in attempt to save the firm.