President and Chief Executive Officer
Headshots available upon request
Biography PDF
Teresa (Terry) Rasmussen is president and chief executive officer of Thrivent, a Fortune 500 financial services company. She is a member of the Thrivent Board of Directors and serves on its Executive Committee.
Thrivent offers advice, insurance, investments, banking and generosity products and programs to clients in communities across the United States. Under Rasmussen’s leadership, Thrivent is transforming into a holistic financial services organization, helping current and future generations achieve financial clarity, enabling lives full of meaning and gratitude.
Before her current role, Rasmussen was president of Thrivent’s core life, health and annuities business after serving 10 years as senior vice president, general counsel and secretary. Prior to joining Thrivent, Rasmussen held a series of leadership roles at American Express, including serving as vice president and managing counsel. Earlier in her career, she was a trial attorney with the United States Department of Justice, Tax Division, as part of the Attorney General’s Honors Program.
She is chair of the board of directors for H.B. Fuller Company, a $2.9 billion global adhesives and specialty chemical products company, where she also chairs the Corporate Governance and Nominating Committee and is a member of the Compensation Committee. Rasmussen also is chair of the American Council of Life Insurers (ACLI) Board of Directors where she chairs the Executive committee, and serves on the Compensation and Internal Compliance, and Finance committees. Additionally, she is a board member of the Walker Art Center, a world -renowned contemporary art museum in Minneapolis, where she’s a member of the Audit and Finance committees. She previously served as a board member for the International Cooperative and Mutual Insurance Federation (ICMIF).
Rasmussen received her bachelor’s degree in accounting from Minnesota State University at Moorhead. After passing the CPA exam, she earned her Juris Doctor from the University of North Dakota.
Executive Vice President, Chief Human Resources Officer
Headshots available upon request
Biography PDF
Kelly Baker is executive vice president, chief human resources officer of Thrivent, a Fortune 500 financial services company.
In her role, Baker is responsible for providing strategic human resources advice and enterprise support for talent acquisition, benefits and compensation, organizational design, inclusion and workforce culture and effectiveness. Under her leadership, Thrivent is making strategic talent and resourcing decisions that help the organization meet the needs of current and future clients.
Prior to joining Thrivent in 2021, Baker was executive vice president and chief human resources officer for Pentair. Before that, she served in various human resources roles at General Mills, including vice president of HR for the U.S. segment. She also le d Global Diversity & Inclusion during her time at General Mills, strengthening diverse representation among the company’s leaders.
Baker has a Bachelor of Business Administration from Howard University and earned an MBA from the University of Michigan’s Stephen M. Ross School of Business. She serves as a board member of The Opus Group and Ferguson Enterprises.
Executive Vice President, Chief Operating Officer
Headshots available upon request
Biography PDF
Brett Brunick is executive vice president, chief operating officer of Thrivent, a Fortune 500 financial services company.
In his role, Brunick oversees enterprise strategy, digital and technology, enterprise analytics and data management at Thrivent to help clients achieve financial clarity, enabling lives of meaning and gratitude. His role – which expanded from his previous role as Chief Digital and Technology Officer – is to connect strategy, insight and execution into one integrated operating structure for Thrivent. Brunick has implemented a product operating model that accelerated Thrivent’s transformation through teams de dicated to client -first and digital -first experiences.
Brunick joined Thrivent in 2021 with more than two decades of leadership experience spanning the digital, technology, product management, engineering, architecture, data and infrastructure areas. Prior to joining Thrivent, he served as executive vice presi dent and chief information officer at Twin Cities - based TCF Bank (now Huntington Bank). While there, Brunick oversaw the launch of an online mobile platform, implemented a full retail customer relationship management across branches and contact centers, an d modernized legacy systems. Prior to TCF, Brunick served in a progression of leadership roles at Target and was instrumental in building out key aspects of the consumer experience platform, including target.com, stores, data, merchandising and supply chai n.
He has a bachelor’s degree in management information systems from Iowa State University.
Executive Vice President, Chief Distribution Officer
Headshots available upon request
Biography PDF
Nick Cecere is executive vice president and chief distribution officer of Thrivent, a Fortune 500 financial services company.
In his role, he leads a division that includes all distribution operations of Thrivent. He is responsible for Thrivent’s network of financial advisors across the country, including career advisors, Thrivent’s national practice group and the Thrivent Adviso r Network (TAN). Additionally, he oversees centers of excellence for Advice, Advisor Growth, Practice Growth and Wholesaling, along with Thrivent’s virtual advice, field compensation, strategic execution and Thrivent Investment Management Inc. (TIMI) teams .
Cecere started his career as a financial advisor before becoming a regional and national leader. He spent 25 years with Principal Financial Group and was responsible for distribution, Operations and strategic leadership of independent life brokerage, Princ ipal Advisor Network distribution, nonqualified plan sales distribution teams, relationship management team, individual disability income distribution and relationship management, group benefits distribution and relationship management, and group benefits account management and service.
He joined Thrivent in 2021 and was promoted to his previous role as senior vice president and chief distribution officer in 2022.
Cecere earned a bachelor’s degree in economics from Utica University.
Senior Vice President, Chief Strategy, Planning and M&A Officer
Headshots available upon request
Biography PDF
Stephen Friend is senior vice president, chief strategy, planning and M&A officer of Thrivent, a Fortune 500 financial services company.
In his role, Friend is a member of the Executive Leadership Team, responsible for guiding the strategic decision -making, planning and prioritization to drive long -term growth for Thrivent. He oversees the organization’s enterprise strategy and execution, m ergers and acquisitions, competitive intelligence, and serves as chief of staff to CEO and President Terry Rasmussen. In his previous role as vice president of corporate mergers and acquisitions, Friend worked closely with the Executive Leadership Team to develop and execute the company’s strategic priorities.
Before joining Thrivent, Friend practiced corporate law at several national firms, including the New York office of Paul, Weiss, Rifkind, Wharton and Garrison. He spent his career providing financial and legal guidance on mergers, acquisitions, divestiture s, joint ventures and more.
Friend has a B.A. from the University of Michigan and a J.D. from Harvard Law School. He serves on the board of directors of Junior Achievement, Wallin Education Partners and College Avenue.
Executive Vice President, Chief Legal Officer, General Counsel and Secretary
Headshots available upon request
Biography PDF
Paul Johnston is executive vice president, chief legal officer, general counsel and secretary of Thrivent, a Fortune 500 financial services company.
In his role, Johnston leads nine essential business functions that are responsible for ensuring Thrivent delivers on its strategic priorities and maintains a strong and trusted reputation. His team encompasses enterprise legal and compliance (asset managem ent, workforce, commercial & distribution, insurance, shared services), enterprise operations (new business, underwriting, contact center, inforce operations, service operations), government affairs, corporate real estate, procurement and enterprise governance.
Johnston leads efforts to transform the organization’s risk culture to one that promotes and supports smart risktaking. This involves developing the necessary skills, capabilities and practices to align leaders with Thrivent’s risk tolerances and appetite, ultimately advancing risk culture for the organization.
Before coming to Thrivent in 2006, Johnston was vice president and group counsel at American Express Company/Ameriprise Financial, where he served as corporate secretary for 70 affiliated corporate entities, as well as vice president of government affairs. Previously, he also served as chief counsel for three insurance companies, and risk management counsel and legal officer for affiliated life insurance companies and broker -dealers.
In addition to his corporate experience, Johnston was an adjunct professor of financial services law and regulation at the University of Minnesota Law School, general counsel of a New York - based financial services trade association and a business law assoc iate of a Minneapolis law firm. Johnston is currently President of ALIC (Association of Life Insurance Counsel) and serves on the board of directors for the Northside Achievement Zone in Minneapolis.
He holds a Juris Doctor from the University of Minnesota Law School and a bachelor’s degree from Saint John’s University
Executive Vice President, Chief Marketing & Communications Officer
Headshots available upon request
Biography PDF
Greg McCullough is executive vice president, chief marketing and communications officer of Thrivent, a Fortune 500 financial services company.
In his role, McCullough oversees all brand and integrated marketing, internal and external communications and strategic partnerships for the organization. He leads integrated strategies that strengthen Thrivent’s reputation, expand brand awareness and support growth by deepening engagement with clients, financial advisors, employees and communities. He previously served as Thrivent’s Chief Communications Officer and Chief of Staff to the CEO.
McCullough has extensive experience as a global digital, marketing and communications executive. Before joining Thrivent, McCullough led corporate marketing for Medtronic, where he directed omnichannel campaign strategy and execution, corporate citizenship and marketing partnerships in 160 countries. Prior to Medtronic, he held leadership roles at Fortune 500 companies in several other industries and served as chairman of the Minnesota Campaign Finance and Public Disclosure Board.
McCullough has a B.A. in American culture and an M.S. in journalism from Northwestern University, where he also set four school track and field records. He also holds an MBA from the University of Minnesota and completed the Executive Marketing Program at Stanford University. He serves as a volunteer at the Greater Minneapolis Crisis Nursery.
Executive Vice President, Chief Financial & Investment Officer
Headshots available upon request
Biography PDF
David Royal is executive vice president, chief financial & investment officer and treasurer of Thrivent, a Fortune 500 financial services company.
As chief financial & investment officer, Royal is responsible for maintaining Thrivent’s ongoing financial strength and stability, ensuring the organization strategically manages its resources to deliver on the financial promises made to clients, generates financial returns and drives organizational growth.
In his role, Royal oversees all asset management, finance, actuarial, banking, and product and investment solutions for the organization. He is responsible for Thrivent’s financial management and business risk management functions, and corporate mergers an d acquisitions. He leads the teams who manage Thrivent’s general account and Thrivent’s award - winning mutual funds, for which Royal serves as a board director. With a focus on providing comprehensive insurance, wealth management, investment and banking sol utions, Royal and his team provide Thrivent clients with solutions, programs and advice to help them live lives of service and faith.
Since joining Thrivent in 2006, Royal has held a series of progressive leadership roles within the organization, including serving as deputy general counsel of Thrivent and chief legal officer of Thrivent’s mutual funds, then as president of Thrivent Mutua l Funds and —since 2017 —as chief investment officer. Before coming to Thrivent, Royal was a partner at Kirkland & Ellis LLP, an international law firm.
Royal also has been an adjunct professor at the University of Minnesota Law School since 2008, where he teaches investment management law. He also serves as a board director and chair of the investment committee for the YMCA of the North and has held a var iety of leadership positions at his church.
Royal received his bachelor’s degree from Yale College and a Juris Doctor from Yale Law School.
Executive Vice President, Chief Growth and Generosity Officer
Headshots available upon request
Biography PDF
Carolyn Sakstrup is executive vice president, chief growth and generosity officer of Thrivent, a Fortune 500 financial services company.
In her role, Sakstrup is responsible for marketing, elevating the organization’s brand, enhancing generosity offerings, deepening client engagement and strengthening Thrivent’s position as a trusted financial brand. She uses client insights to advance Thrivent’s transformation and is evolving our generosity strategy to mobilize clients to do even more good in their communities.
Sakstrup has extensive experience from her role as senior vice president of Insights, Strategy and Innovation at Target. She led the development of Target’s long-term strategic agenda, consumer insights driven strategic planning, and innovation pipeline to support longer-term growth. Before that, she served as senior vice president of marketing. Prior to her 12 years at Target, Sakstrup was a strategy consultant at McKinsey & Company, focused on marketing and organizational strategy for clients.
Sakstrup has a bachelor’s degree in Spanish from the University of Minnesota and earned an MBA from Harvard Business School. She is past chair of the board of the YMCA of the North in Minneapolis, Minnesota, where she continues to serve on the executive committee.