Nuveen named William Huffman as its new CEO, succeeding Jose Minaya, who was appointed to the position in 2020.

Huffman was the president of Nuveen Asset Management and head of equities and fixed income prior to his promotion. Nuveen is the investment management arm of the Teachers Insurance and Annuity Association of America, or TIAA.

"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," Huffman said in a release.

Huffman has more than 30 years of experience in asset management and has been at Nuveen since 2008. He played an important role in growing the firm's assets under management from $800M in 2014, when TIAA acquired Nuveen, to more than $1T now, according to a release announcing Huffman's appointment.

Huffman will chair the Nuveen executive leadership team and serve as a member of TIAA's executive committee.

Nuveen has made a few alterations to its investment strategy in recent months, getting out of the single-family rental management business in a deal with Invitation Homes.

The company's affordable housing fund this week announced a $93M investment from the California Public Employees' Retirement System.