A consortium of investors completed the acquisition of TIAA Bank.

Investment management firms Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street and Bayview Asset Management completed the acquisition of TIAA Bank, a provider of financial services and products for individuals and small and mid-size business clients nationwide. Financial terms were not disclosed. "TIAA undertook this transaction from a position of financial strength, and the close of the bank sale marks an important execution milestone in pursuing our strategic focus on providing a secure retirement for our millions of clients. Additionally, we are pleased that TIAA's clients will be able to continue to benefit from the banking services they have previously enjoyed through our continued relationship with EverBank," David Nason, TIAA Chief Operating Officer.