Thasunda Brown Duckett’s longtime executive has accomplished much in his career. After serving as CEO of Chase Consumer Banking for over four years, it was recently announced that Duckett will become the next CEO of the Association of Teachers’ Insurance and Annuities of America (TIAA). When she enters this role on May 1, she will be the second black woman to currently run a Fortune 500 company and only the fourth black woman in history to serve as CEO of Fortune 500.
Duckett acknowledges much of his success because he found his passion in his career from the beginning. As a student at the University of Houston, he earned an internship with the mortgage company Fannie Mae. “I liked it,” she told The New York Times in 2019, “and I began to realize that I would work in the mortgage business.”
After graduating from college, Duckett says she received several job offers, but decided to go with Fannie Mae, even though she was the youngest.
“I said, ‘I know this company and I like people and I’ll have a better picture here,'” she told the Times. In addition to being familiar with the company’s culture, Duckett explained that she also knows that Fannie Mae will provide opportunities to align with her career goals. “You find your passion and for me that was the ownership of a house.”
Thasunda Duckett, executive director of consumer banking at JPMorgan Chase & Co.
Patrick T. Fallon | Bloomberg | Getty Images
The executive says her humble upbringing inspired her to pursue a career in finance.
“When you know what it’s like to look in the fridge and see only baking soda or to know what it’s like to have the lights off, personal finances are important,” says Duckett. In her role as Fannie Mae, she has helped lead affordable housing initiatives for people of color.
After leaving Fannie Mae in 2004, Duckett, who has an MBA from Hankamer School of Business at Baylor University, joined Chase. Prior to retaining his current role in 2016, he worked as CEO of Chase Auto Finance, SVP for emerging markets and affordable lending and SVP for home loans.
As she reflects back on her career, the 47-year-old says she thinks a lot about her parents and how their relationship with money led her to where she is today.
“I often think of the day my father asked me to help him plan his retirement, and I had to tell him, ‘Dad, your pension is not enough,'” she said in a statement. the new role at TIAA. Duckett’s father worked at a Xerox warehouse in New Jersey before losing his job and moving his family to Texas, she says. Her mother worked as a teacher. Her parents could not buy a house until Duckett could help them with the purchase.
Now, as the new executive director of TIAA, the executive says, “I am extremely grateful for the opportunity to run a company that has helped millions of people retire with“ enough ”to live in dignity and excited about the opportunity to help the TIAA follow its next 100 years. “
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