US – US pension fund TIAA-CREF has named former Coopers & Lybrand partner Elizabeth Monrad as chief financial officer.

A spokesman said she will replace Richard Gibbs, “who is being assigned to other responsibilities”.

The Teachers Insurance and Annuity Association College Retirement Equities Fund said in a statement that Monrad will oversee all of TIAA-CREF's finance functions, including financial management and planning, tax, treasury, and accounting.

She is currently CFO at General Re Corp. and was formerly a partner at Coopers & Lybrand in Boston.

"Betsy Monrad is a multi-talented executive who will help ensure that we enhance our already strong financial strength," said TIAA-CREF’s chairman, president and chief executive Herbert Allison.

TIAA-CREF has 262 billion dollars in assets under management.