TIAA Bank ousts outgoing CEO over alleged policy violations
Memo: Internal investigation found Blake Wilson ‘violated personnel and other policies’
JACKSONVILLE, Fla. – Two months after TIAA Bank announced the retirement of CEO Blake Wilson, the Jacksonville-based bank has decided instead to fire Wilson over unspecified policy violations.
Wilson was expected to retire at the end of the year but stick around in an advisory role. On Monday, employees learned of his dismissal through an email from his successor, CEO Steve Fischer.
“I am writing to inform you that Blake Wilson is no longer employed by TIAA Bank," Fischer’s email said in part. “Serious matters were brought to our attention following the announcement of his retirement, and after a full investigation, it has been determined that he failed to adhere to company standards of conduct, and violated personnel and other policies.”
Fischer noted that the decision to part ways with Wilson was backed by management as well as TIAA Bank’s Board of Directors. As part of the dismissal, he said, Wilson will not receive severance pay or other deferred compensation.
“Our culture comes down to every one of us and the values we bring to work every day,” Fischer wrote. “Our work requires our customers’ trust. Earning that trust means acting with integrity, and that means never being afraid to speak up when you see something that isn’t right.”
A TIAA Bank spokesperson confirmed the authenticity of the internal memo obtained by News4Jax but declined to issue a comment or discuss the nature of the allegations against Wilson.
Wilson, a financial services industry veteran, joined EverBank in 2002 as its chief financial officer before being named chief operating officer in 2011. He became president and CEO of TIAA Bank in June 2017 after the two firms completed their merger.
In September, TIAA Bank announced Fischer would succeed Wilson, who was retiring to focus on a “new phase in his life.” Fischer, who previously held the titles of president and chief operating officer, joined the firm in 2011 as chief financial officer and executive vice president.
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