Financial services provider TIAA-CREF has appointed Rahul Merchant as Executive Vice President and Chief Information Officer (CIO).
Merchant, who will report to TIAA-CREF Chief Operating Officer Ron Pressman, starts his new role on 27 April.
“Leading-edge technology capabilities are essential to delivering a world-class customer experience and the kind of performance that our customers expect,” says Roger W Ferguson, Jr, president and CEO, TIAA-CREF. “Rahul brings the deep business experience and IT expertise needed to execute a technology strategy that will enable us to continue expanding the range of financial services that TIAA-CREF provides to help our customers achieve financial well-being at every stage of their lives.”
As CIO, Merchant will help define and implement TIAA-CREF’s enterprise technology strategy, and he will lead the teams responsible for core infrastructure, enterprise architecture, data and information security systems, and application delivery for core enterprise functions.
Merchant joins TIAA-CREF with more than 30 years of experience in the public and private sectors, with a unique combination of expertise in business, technology, operations and private equity.
Merchant served as New York City's first Citywide Chief Information and Innovation Officer from 2012 to 2014. Prior to this position, he was an Operating Partner at Exigen Capital and served as an Executive Vice President, Chief Information and Operations Officer, and Member of the Executive Committee of Fannie Mae. He served as Senior Vice President, Chief Information Officer, and Chief Technology Officer of Merrill Lynch from 2000 to 2004. Most recently, he served as General Manager of his own advisory firm.
“Thanks to TIAA-CREF’s commitment to technology application and innovation, the organization has emerged at the forefront of online customer service in the financial services industry,” said Merchant. “I look forward to continuing this technology transformation by strengthening the organization’s IT infrastructure to deliver the business excellence expected of a full-service financial services provider.”
Merchant holds a Bachelor of Science, in Electrical Engineering from Bombay University, a Master of Science in Computer Science from Memphis State University and a Master of Business Administration from Temple University.
He will be based in New York.