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uveen, the investment manager of TIAA, has announced that Chad W. Phillips will serve as Global Head of Nuveen Real Estate, effective immediately. This move follows Chris McGibbon's decision to retire after nearly 25 years of service.
In his new role, Mr. Phillips will oversee $141 billion in assets under management across commercial real estate equity and debt investments spanning 22 countries globally. He will also chair the Nuveen Real Estate Global Executive Leadership Team, which drives strategic initiatives for the platform.
With over two decades of experience in all facets of real estate investing and portfolio management, Mr. Phillips joined Nuveen in 2019. Most recently, he led a global team focused on workplace, healthcare, retail, and mixed-use investments, overseeing strategy, performance, and day-to-day investment activities across those sectors.
"Chad is known for his leadership style, investment expertise, and commitment to client service," said Mike Sales, Chief Executive Officer of Real Assets at Nuveen. "I have every confidence he will maintain our drive for excellence as he guides the platform into the future."
Mr. McGibbon will ensure a smooth transition, remaining with the firm until his retirement on June 30, 2025. Over nearly 25 years with TIAA and Nuveen, Mr. McGibbon has grown and transformed the real estate business, which is now a top five global player.
"It's a privilege to take on the leadership of Nuveen Real Estate," said Mr. Phillips. "Focusing on our clients' objectives will remain our foremost priority as we continue building our platform's reputation for innovation through the expertise and hard work of our industry-leading teams."
Nuveen Real Estate is one of the largest real estate investment managers in the world, with over 90 years of experience and more than 750 employees dedicated to real estate across 30+ cities worldwide.
