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When Is A CIO Not A CIO?

In which I learn the real meaning of CIO in the financial community, and that there are limits to a PR person's patience.

TIAA-CREF, which provides retirement services for people in the academic, cultural, medical, and research fields, is looking to fill a new position: executive VP of IT and operations. The move is the company's "next step" in its "long-term strategy to enhance information technology capability and deliver the highest-quality service to clients," according to a statement.

The move was occasioned by the resignation of Susan Kozik, who had been TIAA-CREF's VP and CTO since 2003. Taking her place will be Peter Murphy, the company's chief information security officer, who will have the title of Acting Chief Technology Officer. "Mr. Murphy will continue his current responsibilities concurrent with his appointment," according to the statement.

Ouch! That's a lot to bite off. I wondered if TIAA-CREF had a CIO, so I e-mailed the PR person who had sent me the announcement about the new position. "As a financial services company with significant asset management capabilities we think of 'CIOs' as chief investment officers, so we have 'chief technology officers' not 'chief information officers' (of course, we have a chief investment officer)," he e-mailed me back.

Unfortunately, I didn't notice this statement at the end of his message: "Sent from my BlackBerry Wireless Handheld."

I asked him whether the new position involved a combination of CIO and COO responsibilities, a particular juxtaposition that had been on my mind lately. "Our core business is providing retirement plans for colleges, universities, and others in the nonprofit community so processing and operations is certainly important to our business and our clients but it does not mean 'chief operating officer,' " he e-mailed back.

I asked him if TIAA-CREF has a chief operating officer. Also, is Peter Murphy under consideration for the job of EVP of IT and Operations? And when that job is eventually filled, will there still be a separate Chief Technology Officer (Peter Murphy, perhaps?) -- or will the EVP IT and Operations subsume that role (and title)?

He responded: "Hey -- I'm at a dinner -- do you need this tonight?”"

No, it could wait. I guess I get a little carried away sometimes.

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