Key Personnel

Scott Evans is the Executive Vice President, Asset Management and Chief Executive Officer of TIAA-CREF's investment advisory subsidiaries Teachers Advisors, Inc. and TIAA-CREF Investment Management LLC. He is responsible for the development of TIAA-CREF's investment products and has oversight of the company's more than $400 billion in combined assets under management (as of September 30, 2008). Mr. Evans previously served as Chief Investment Officer, with responsibility for investment policy, strategy and oversight of the organization’s equity and fixed-income portfolios. Earlier, he was head of CREF Investments, where he was responsible for managing the firm's equity portfolios and directing teams of global analysts and portfolio managers. He joined TIAA-CREF in 1985 as an investment analyst.

Mr. Evans serves on the Board of Trustees of Barnard College and is a member of its investment committee. He also serves as a member of the investment committee at Tufts University, serves on the Dean's Advisory Council at Northwestern University's Kellogg School of Management, and chairs the investment committee for the Rockefeller Family Fund.

Mr. Evans earned a B.A. from Tufts University and an M.M. from Northwestern University’s Kellogg School of Management. He holds the Chartered Financial Analyst (CFA) designation and is a member of the New York Society of Security Analysts.

Edward Grzybowski is a Senior Managing Director and the Chief Investment Officer for the TIAA-CREF organization and Teachers Advisors, Inc. He is responsible for the organization's investment policy, strategy and oversight of its assets under management. Previously, Mr. Grzybowski was the head of Investment Services, the operational and processing unit within the Investment Management group. Earlier, he served as a group managing director overseeing fixed-income and short-term portfolios, bond lending, and the foreign currency and derivative trading units. He joined TIAA-CREF in 1987.

Prior to joining the TIAA-CREF organization, Mr. Grzybowski was a vice president and portfolio manager of taxable fixed-income at Chubb Insurance. He began his career at Oppenheimer & Company as an analyst.

Mr. Grzybowski has a B.A. and an M.A. in economics from the City University of New York (CUNY). He is a member of the New York Society of Security Analysts, the CFA Institute and the International Association of Financial Engineers. Mr. Grzybowski holds the Chartered Financial Analyst (CFA) designation.

William Riegel is Head of Equity Investments for the TIAA-CREF organization and Teachers Advisors, Inc.  Mr. Riegel is also one of the portfolio managers of the CREF Stock Account.  He joined TIAA-CREF in 1999.

Mr. Riegel has more than 25 years of investment experience, including previous positions at JPMorgan.

Mr. Riegel earned a B.A. in history from Williams College.  He holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the New York Society of Security Analysts.

Thomas Garbutt is the head of Global Real Estate for the TIAA-CREF organization and Teachers Advisors, Inc. He is responsible for the firm's global equity real estate activities including acquisitions, product development, sales and marketing, research, and portfolio and asset management. He joined TIAA-CREF in 1981 and has more than 26 years of experience in the real estate finance and investment industries.

Mr. Garbutt is a member of the Urban Land Institute, the Pension Real Estate Association, the National Association of Real Estate Investment Managers and The Real Estate Roundtable.

He holds a B.S. in business administration from Binghamton University and an M.S. in real estate investment from New York University.

Sanjeev Handa is the head of Global Public Markets for the TIAA-CREF organization where he has worked since 1988. In this role, he oversees the public fixed-income investment area of the TIAA-CREF organization and Teachers Advisors, Inc.

Prior to assuming his current position in 2006, Mr. Handa managed TIAA's asset-backed and collateralized debt obligations (CDO) portfolios for eight years. He also has experience as a corporate bond and emerging market analyst during his career at TIAA-CREF.

Mr. Handa was awarded undergraduate degrees from New York University and The Cooper Union for the Advancement of Science and Art and earned a Master of Business Administration from the University of Michigan.

David Brown is the head Global Private Markets for the TIAA-CREF organization and Teachers Advisors, Inc. Mr. Brown is responsible for overseeing all private fixed-income investments. Most recently, he served as the head of Commercial Mortgages and Private Real Estate portfolios for TIAA.

Mr. Brown joined TIAA-CREF from Prudential Financial, where he served in a variety of roles over a 15-year period, beginning in 1989 as an investment associate and advancing in 2000 to principal and head of Eastern Region Originations. Prior to joining Prudential, he worked as a real estate acquisitions associate with The Boston Company Real Estate Counsel and as an investment and leasing broker at Ryan, Elliott & Company. Mr. Brown has more than 25 years of experience in the real estate and investment industries.

Mr. Brown holds a B.S. in business administration from Boston College and an M.B.A. from Harvard University.

Scott Budde is the head of TIAA-CREF’s Global Social and Community Investing Department. In this capacity, Mr. Budde manages the company’s Global Microfinance Investment Program, as well as social investing initiatives related to socially screened portfolios and new product development.  Mr. Budde joined TIAA-CREF in 1994 as an Associate Director and equity analyst covering financial services stocks. He has also served as a portfolio manager on the TIAA-CREF Lifecycle portfolios and has worked extensively with a wide range of TIAA-CREF clients on investment issues.

Prior to joining TIAA-CREF, he worked for 12 years in financial, analytical and consulting positions with several financial services companies. This experience includes strategic planning for a major regional bank, consulting to the national bank of a Persian Gulf Emirate and managing the finance department of a Boston-based savings institution with extensive mortgage banking operations.

Mr. Budde is the author of “Compelling Returns: A Practical Guide to Socially Responsible Investing Strategies” published by Wiley and Sons of New York City.    Compelling Returns discusses how individual investors can get competitive returns through the main social investing strategies of social screening, community investing and corporate engagement.

Mr. Budde has served on the boards of several nonprofits. In connection with his microfinance work at TIAA-CREF, he serves on the Capital Markets Advisory Committee of the Grameen Foundation USA and represents TIAA as a shareholder in ProCredit Holding AG, a leading microfinance holding company with subsidiaries in Latin America, Eastern Europe and Africa.

Mr. Budde earned an A.B. in economics from Bowdoin College and a master’s degree in international affairs from the School of International and Public Affairs at Columbia University with concentrations in international economics and East Central European studies. Mr. Budde was a Fulbright Scholar in Hungary. He also holds the Chartered Financial Analyst (CFA) designation.