TIAA will promote one of its own to chair its expanded bank after it buys EverBank Financial in Jacksonville, Fla.

Kathie Andrade is currently chief executive of TIAA's retail financial services business. She will keep that title after the bank deal closes.

TIAA will also promote Blake Wilson, president and chief operating officer at the $27 billion-asset EverBank, to president and CEO of the new bank.

Robert Clements will retire as EverBank's chairman and CEO, though he will join the new bank's board. Clements has been EverBank's chairman and CEO since 1997.

TIAA, a not-for-profit provider of retirement services and insurance, announced last month that it had agreed to buy EverBank for $2.5 billion in cash. The deal is expected to close in the first half of next year.

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