UNITED STATES - TIAA-CREF Asset Management has signaled plans for a major institutional business drive with the expansion of its sales team and three key appointments.

Kevin Maxwell, Dave Stuart and William Whipple have all joined the team to help expand the firm's global marketing of new investment products to institutional investors, including pension funds.

Stuart was previously real estate investment officer for the Alaska Permanent Fund Corporation, responsible for running a $4bn private and public real estate program for the pension fund, but has now been appointed director of real estate sales at TIAA-CREF.

His senior will be Maxwell, who comes to the firm from LaSalle Investment Management, where he was senior vice president with specific responsibility for institutional real estate sales in the US and Canada, to become managing director of real estate sales.
At the same time, Whipple has arrived from Southern Companies as director of real estate sales, alongside Stuart. He was previously manager of equities and risk in the company's trust finance department and oversaw $4bn worth of investments including real estate for the corporate pension fund.

Their first focus will be on the marketing of a US value-added commingled fund with a targeted investment of $250m (€175m).

All three recruits will report to Jeffrey Margolis, senior managing director of asset management business development for TIAA-CREF.