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David Royal appointed Chief Financial & Investment Officer of Thrivent  

Royal will oversee Thrivent’s finance and actuarial functions while continuing to lead the organization’s asset management division  

MINNEAPOLIS (September 13, 2022) — Thrivent, a Fortune 500 diversified financial services organization, announced that David Royal will assume the role of Thrivent’s Chief Financial & Investment Officer effective today. Royal is taking on the expanded leadership responsibilities of chief financial officer in addition to serving as chief investment officer, a position he has held at Thrivent since 2017.  

In his role, Royal will bring Thrivent’s finance, actuarial and investment teams together as the organization continues to focus on its strategic transformation to grow and serve more clients. He brings a comprehensive financial services viewpoint that encompasses insurance, asset management and banking, and his expertise positions him to be a great financial steward for Thrivent’s current and future clients. 

“David is an exceptional leader who’s perfectly suited to take on this elevated role,” said Terry Rasmussen, president and CEO of Thrivent. “Over the years, he’s demonstrated strong leadership by assembling a world-class investment team, executing a strategic vision for our asset management division and bringing a sharp financial acumen to all that he does. He will lead our finance and actuarial teams with the same mindset, as they focus on maintaining and growing our organization’s financial strength so we’re prepared to serve generations to come.”  

“It’s an honor to serve in this expanded role as Chief Financial & Investment Officer, and I look forward to building on the legacy of diligent, confident financial stewardship and asset management that has been a hallmark for our organization,” said Royal. “Every day, our clients rely on us to make decisions that maintain the organization’s financial strength and stability and generate returns so we can fulfill the promises we make to them, whether they’re protecting their finances against the unexpected, investing for the future or generously giving back to others. We will keep our current and future clients at the center of our financial decisions as we meet their needs and prepare for growth.”  

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 Mutual Funds and most recently as chief investment officer since 2017. Under his leadership, Thrivent’s talented team of investment professionals have managed award-winning mutual funds consistently recognized for strong investment performance. Before coming to Thrivent, Royal was a partner at Kirkland & Ellis LLP, an international law firm.  

Outside of Thrivent, Royal 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 variety of leadership positions at his church. Royal and his family reside in Orono, Minn. 

Royal received his bachelor’s degree from Yale College and a Juris Doctor from Yale Law School. 

About Thrivent  

Thrivent is a diversified financial services organization that helps people achieve financial clarity, enabling lives full of meaning and gratitude. Thrivent and its subsidiary and affiliate companies serve more than 2.3 million clients, offering advice, insurance, investments, banking and generosity products and programs over the phone, online as well as through financial professionals and independent agents nationwide. Thrivent is a Fortune 500 company with $189 billion in assets under management/advisement (as of 12/31/21). Thrivent carries an A++ (Superior) rating from AM Best, a credit rating agency; this is the highest of the agency’s 13 rating categories and was affirmed in June of 2022. Rating based on Thrivent’s financial strength and claims-paying ability. Does not apply to investment product performance. For more information, visit You can also find us on Facebook and Twitter. 

Insurance products, securities and investment advisory services are provided by appropriately appointed and licensed financial advisors and professionals. Only individuals who are financial advisors are credentialed to provide investment advisory services. Visit or FINRA's BrokerCheck for more information about Thrivent's financial advisors.