Thasunda Brown Duckett_ Leading A Firm With $1.2 Trillion AUM, Being Fortune 500 CEO, & 401k Myths-MP3

Thasunda Brown Duckett (0:00)

Sometimes we have this mindset that it's an either or. So if someone wants to do corporate, I'm gonna be an entrepreneur, you could do that corporate thing.

Is it just me, nobody says that?

Rashad Bilal (0:11)

I smell corporate fray.

Thasunda Brown Duckett (0:12)

Right, you're right.

And I, again, I operate, it's a we thing. I want more entrepreneurs. I want more people in corporate America. I want people participating in the political environment. I want people to be passionate about giving back and philanthropy and activism. The reason why I just share that is because this through line that I'm going to answer, it has nothing to do with your rented vision.

It has everything to do with your ownable assets. And whether I am in corporate America or an entrepreneur, I'm still operating with ownable assets.

Troy Millings (0:49)

Well, first and foremost, thank you to TIA CREF for putting this together. And thank you for sure. We've been running each other for a long time. So it's good that we actually now have an opportunity to have a conversation that we've been looking forward to for a very long period of time. So thank you for being generous with your time.

Rashad Bilal (1:06)

Absolutely.

Thasunda Brown Duckett (1:07)

It's a privilege.

Rashad Bilal (1:08)

And I told you this backstage, but every time we run into each other, and I think it's important that you hear this and everybody hears this, that you've always found a way to pour into us, to encourage us to do more.

So that's always given us fuel, right? Watching somebody where you're at in your career, to see us and see the work we're doing and understanding the importance of it, but to recognize it and to pour into us to say there's more and how can I help? We greatly appreciate it. So thank you again.

Troy Millings (1:35)

Yes. I want to start. So I think your accomplishments shouldn't be minimized as far as being the CEO of a company that manages over $1.2 trillion. For sure.

I believe the only black CEO of a Fortune 100 company, I think there's only been three in history when it comes to a Fortune 500 company. So you're in very rare air and you don't really have any pairs. So what is your journey to get to where you are now? I know you used to work for Chase and a couple other institutions. So there's a lot of young people in the audience. And I'm sure in a lot of times, they hear these things. But what are the actionable items? What's your path that you took to become the CEO of CREF?

Thasunda Brown Duckett (2:27)

Well, first, it's just such a privilege to meet these two amazing men that are making impact around the world to ensure that millions of people can earn their leisure. You all give them another round of applause.

We were talking, in order to make impact, you have to disrupt. And if you're not disrupting, then you're not shifting the game. And I just have a lot of gratitude to see what you all are doing. And it's inspiring to see how you are connecting with young people and giving them a different narrative on how to make sure that they can grab the bag and keep the bag and see the bag compound. So in terms of my story, I want to take it back because I think it's important for all of you to have context, especially in this environment. I know at a very young age, it was clear to me that I am on the shoulders of giants.

I understand that my intellect, my passion, and my vision was not necessarily sufficient to be here. There had to be so many people that paved the way and cracked ceilings for me to be in this seat. And so I am absolutely grounded in the understanding, and I like to say that it doesn't escape me in corporate America, that it was the cooks, the janitors, and the secretaries that introduced my gender and my melanin to corporate America. And so the reason why I share that context is in words of Otis Brown, people may see your glory, but they don't know your story. It's important to make sure that you see people and understand that there were people that may not have this amazing printed title that paved the way for me to exist. That's lesson one, be grounded in context, especially in your history and let your history fuel your passion. In terms of how I got here, that's step one. Step two is Otis and Rosie Brown. When you have a father who worked in a warehouse, scanning boxes and driving trucks, and you have a mother who's an educator, when you understand that you are first-generation integration, my parents grew up in the segregated South. But Otis Brown told me at a very young age to reach for the moon, because even if you missed, you would be among the stars. This is a man that scanned boxes. So in order to be in this seat, not understanding what that fully meant, I just knew that my dad had an expectation that he didn't even understand what that could realize.