USAA Names Stuart Parker CEO

USAA Chairman of the Board, Gen. Lester Lyles, USAF (Ret.), reported that USAA's Chief Operating Officer Stuart Parker has been named to succeed current CEO when he retires at the end of February 2015.

According to a media release, USAA Capital Corp. President Carl Liebert will succeed Parker in the role of chief operating officer, effective immediately.

"Stuart is the right choice to lead USAA forward at a time when the financial services industry is undergoing tremendous changes," said Lyles. "The board has found a successor who demonstrates clear devotion to USAA's mission to serve the military and their families, deep appreciation and respect for our employees who represent the finest workforce in America, keen business and financial acumen, and unquestionable ethics. The board's decision was unanimous because Stuart meets all of those criteria and more."

USAA noted that as chief financial officer from 2012 to 2014, Parker led an enterprise team focused on building the financial strength of the enterprise to $26 billion in net worth and achieving product revenue growth of 8 percent year over year. He was named chief operating officer in May.

From 2007 to 2012, Parker led USAA'sProperty and Casualty Insurance Group (P&C) and a highly engaged team of 10,000 employees in multiple locations throughout the U.S. and Europe. During that time, P&C net written premiums grew from $8.7 billion to $12.5 billion.

Parker entered the EURO-NATO Joint Jet Pilot Training Program at Sheppard Air Force Base in Wichita Falls, Texas and became an instructor pilot flying T-38 aircraft. While at Sheppard, he also became a Wing Flight Examiner. Parker went on to graduate from aircraft commander school for the C-141 Starlifter and was stationed at Charleston, S.C.

Effective immediately, USAA Capital Corp. President Carl Liebert will become USAA's new chief operating officer. USAA's bank, investment, life and property and casualty companies, real estate company and member experience operations will report to Liebert.

Since joining USAA in 2013, Liebert has provided leadership that has generated results. During his tenure, USAA Federal Savings Bank deposits grew 6 percent year over year to $59 billion.

"Carl's strong leadership has facilitated great momentum and collaboration among our banking, investment and real estate companies over the past year," said Robles. "I'm personally excited about his leadership of all of USAA's businesses and our member service functions to serve our military families even better."

Liebert is a former U.S. Navy officer, 27-year USAA member and, from 2011 to 2013, served on USAA's Board of Directors.

The USAA family of companies provides insurance, banking, investments, retirement products and advice to current and former members of the U.S. military and their families.

More information and complete details:

usaa.com

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