Huffman will join the executive leadership team of the firm, which is the investment manager of TIAA and has US$1.2 trillion in assets under management (AUM).
He previously served as president of Nuveen Asset Management and head of equities and fixed income. His time in this role had seen AUM grow from US$800 billion in 2014 to US$1.2 trillion.
This is divided between US$428 billion in fixed income, US$373 billion in equities, US$146 billion in real estate, US$114 billion in private capital, US$96 billion in multi-asset and US$30 billion in real assets.
Prior to joining Nuveen, Huffman was the chief executive of Northern Trust Global Investments.
Huffman will succeed Jose Minaya who departs the firm after 20 years, having joined as a fixed income portfolio manager back in 2004. He was later promoted to president and chief investment officer in 2017 and took up the CEO role in 2020.
Thasunda Brown Duckett, chief executive of TIAA, said: “Bill’s constant dedication to the best interests of clients and the advancement of the firm’s strategy have had a transformative impact on Nuveen’s business and culture, driving growth and innovation over the last 16 years.
“I’m delighted to welcome Bill into this role and confident that Nuveen will go from strength to strength under his stewardship. We are grateful for all of Jose’s contributions and wish him every success in the future.”
Huffman said: “I’m proud to take on this role leading Nuveen’s exceptional and dedicated team. We will continue to succeed by reinforcing our position as a market leader in fixed income, delivering enhanced public market and alternative capabilities to clients, and investing in our wealth and institutional businesses in key segments including insurance and retirement.
“An increased international presence will enable Nuveen to serve clients in new ways, building on the strong foundation of our diverse and stable business.”
