TIAA Bank, a division of TIAA, FSB, provides nationwide banking services to consumer and commercial clients through a variety of channels, including online and mobile applications, as well as its Florida-based financial centers.
TIAA has entered into a definitive agreement to sell TIAA Bank to new investors with extensive experience in financial services, as part of the company’s strategy to refocus on its core retirement business and Nuveen, the company’s asset manager. When the transaction is complete, in 2023, TIAA will retain a non-controlling stake in the bank, demonstrating the company’s confidence in the bank’s future success.
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