David Nason

David George Nason
David George Nason
Born	October 6, 1970 (age 56); Providence, Rhode Island, U.S.
Occupation(s)	Attorney, government official, corporate executive
Years active	1996–present
Known for	Assistant Secretary for Financial Institutions at U.S. Treasury; President and CEO of GE Energy Financial Services; COO of TIAA

David George Nason (born October 6, 1970) is an American attorney, former government official, and corporate leader based in Washington, DC. He held the position of president and CEO at GE Energy Financial Services, a unit of General Electric (GE), from 2013 until 2018. Before this role, he served as Chief Regulatory Officer and Compliance Leader at GE Capital and was among the 190 officers globally within GE.

Between 2005 and 2009, Nason occupied the role of Assistant Secretary for Financial Institutions under Treasury Secretary Henry M. Paulson, where he was a pivotal figure in formulating the federal government's approach to the 2008 financial crisis.

In 2019, he took on the role of Executive Vice President and Chief Risk & Compliance Officer at the Teachers Insurance and Annuity Association of America (TIAA). He is presently the Chief Operating Officer of TIAA and serves as President of TIAA Wealth Management.

Covington & Burling, 1996–2002

From 1996 through 2002, Nason practiced law at the Washington-based firm Covington & Burling, focusing on corporate legal matters such as securities offerings, mergers, and corporate restructurings. Prior to joining Covington & Burling, he clerked for Judge Marvin J. Garbis at the U.S. District Court for Maryland.

Securities and Exchange Commission, 2002–2005

Nason spent three years as legal counsel to SEC Commissioner Paul S. Atkins, where he contributed to implementing the provisions of the Sarbanes-Oxley Act of 2002. His work included assisting with the establishment of the Public Company Accounting Oversight Board, revising corporate governance standards and listing criteria, and influencing financial accounting regulations. Additionally, he provided guidance on reforms in investment management and securities offerings while overseeing enforcement matters related to Enron for Commissioner Atkins.

U.S. Treasury Department, 2005–2009

Joining the U.S. Department of the Treasury in 2005 as Deputy Assistant Secretary for Financial Institutions, Nason was elevated to Assistant Secretary for Financial Institutions in 2007 following unanimous Senate confirmation.

As a senior member of Treasury Secretary Henry M. Paulson's team, Nason played a crucial role in crafting and executing the Treasury’s strategy during the 2008 financial crisis. He co-created the Capital Purchase Program under the Troubled Asset Relief Program (TARP), which provided over $200 billion in capital to nearly 700 banks. Furthermore, he led development of the Temporary Guarantee Program for Money Market Mutual Funds—a $3 trillion insurance initiative that generated $1.2 billion in fees without incurring losses.

Nason also directed early efforts toward financial regulatory reform, including authoring Treasury’s Blueprint for a Modernized Financial Regulatory Structure. He was influential in strengthening oversight of entities such as Fannie Mae, Freddie Mac, and Federal Home Loan banks.

Within Treasury, Nason earned a reputation as a practical policy advisor likened to a "mini-policy think tank." Undersecretary Robert K. Steel recognized him as "one of the department's most important advisers." Andrew Ross Sorkin's Too Big to Fail refers to him as Treasury’s "resident policy-making brain," highlighting his early warnings from 2007 about potential bank runs akin to Bear Stearns. In his memoir On the Brink, Secretary Paulson acknowledges Nason’s profound expertise on bank guarantees and describes the money market guarantee program as "the single most powerful and important action taken to hold the system together."

Promontory Financial Group, 2009–2010

During his tenure as managing director at Promontory Financial Group, Nason provided guidance to financial institutions on matters including corporate governance, risk management, due diligence processes, mergers, and adherence to regulatory requirements. He was a frequent commentator on Bloomberg and CNBC and recognized as a prominent financial authority in national media outlets. In May 2009, Nason appeared before the Senate Committee on Homeland Security & Governmental Affairs to advocate for updating U.S. regulatory systems to better align with advances in financial innovation.

In December 2009, he contributed an editorial to The New York Times calling for a reassessment of the repayment criteria related to the Troubled Asset Relief Program (TARP).

GE Capital, 2010–2013

Nason assumed the role of senior vice president and chief regulatory and compliance officer at GE Capital in August 2010. He directed the global regulatory and compliance division, ensuring the company’s preparedness amid shifting regulatory landscapes across multiple international jurisdictions.

GE Energy Financial Services, 2013–2018

As president and CEO of GE Energy Financial Services, Nason oversaw GE’s worldwide energy investment portfolio. The division boasts over three decades of expertise managing energy assets through various economic conditions, with holdings that include traditional and renewable energy sources alongside oil and gas infrastructure ventures. He also chaired the investment committee responsible for a $14 billion portfolio encompassing both debt and equity investments.

Teachers Insurance and Annuity Association of America (TIAA), 2019–Present

Nason joined TIAA in September 2019 as Executive Vice President and Chief Risk and Compliance Officer, where he leads integrated Risk Management and Compliance operations addressing dynamic market challenges. He currently holds the positions of Chief Operating Officer of TIAA and President of TIAA Wealth Management.

Honors and awards

In recognition of his efforts during the 2008 financial crisis and his role in advancing regulatory reforms, Nason was honored with the Alexander Hamilton Award, the highest distinction bestowed by the Treasury Department.

He was selected as a Young Global Leader by the World Economic Forum in 2009, acknowledging his dedication to influencing global progress.

That same year, Nason received the Community Leadership Award from the American University Kogod School of Business for his impact on business and community leadership.

Board seats

In May 2007, President George W. Bush appointed Nason to the board of directors of the National Cooperative Bank (NCB), a federally chartered institution serving cooperatives’ financial requirements; this appointment was confirmed by the Senate.

In 2008, Secretary Paulson appointed him to serve on the board of the Securities Investor Protection Corporation (SIPC), a federal non-profit organization that safeguards investors in cases where broker-dealers become insolvent.

Currently, Nason is a board member for TIAA Bank and IntraFi Network and serves on the Board of Advisors for New York City’s Hospital for Special Surgery.

Nason was born and raised in Providence, Rhode Island. His father worked as a UPS driver. He earned dual degrees—a B.S./B.A. in finance—from The American University in 1992, followed by a J.D., graduating summa cum laude, from The American University’s Washington College of Law in 1995.

He is married to Nicole Nason, who previously served as assistant secretary at the U.S. Department of Transportation, held the position of administrator at the National Highway Traffic Safety Administration from May 2006 until September 2008, and currently leads the Federal Highway Administration. The couple resides in Virginia.

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