Parker Named New CEO of USAA

Stuart Parker, currently chief operating officer at San Antonio-based USAA has been named to succeed current CEO Joe Robles when he retires at the end of February 2015.

USAA Capital Corporation President Carl Liebert will succeed Parker in the role of chief operating officer, effective immediately.

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’s Property 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.

A USAA member for more than 30 years, Parker rose through the ranks to successfully lead the development of USAA’s Financial Planning Services organization, which formed the foundation of USAA’s strategy to provide free advice and in-depth financial plans and counseling to help members achieve financial security.

Parker is a graduate of Georgia’s Valdosta State University with a degree in business administration and is a distinguished graduate from the Air Force ROTC program. He 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. He flew the C-141 in combat missions during Operation Desert Shield/Desert Storm.

As the company’s new chief operating officer, USAA’s bank, investment, life and property/casualty companies, real estate company and member experience operations will report to Liebert.

Since joining USAA in 2013, Liebert has provided dynamic leadership that has generated results. During his tenure, USAA Federal Savings Bank deposits grew 6 percent year over year to $59 billion. Life Insurance Company in force insurance increased 4 percent year over year to $387 billion. Investment Management Company owned and managed assets were up 16 percent year over year to $72 billion.

Liebert has global business experience and deep consumer insights acquired through the senior leadership roles he held at companies including The Home Depot, Circuit City and General Electric. Prior to joining USAA, he served as CEO of 24 Hour Fitness from 2006 to 2013, where he oversaw strategy, operations and financial performance.

Liebert is a former U.S. Navy officer, 27-year USAA member and, from 2011 to 2013, served on USAA’s Board of Directors. He graduated from the United States Naval Academy with a BS in Physical Science. He obtained his MBA from Vanderbilt University, Owen Graduate School of Management.

Source: USAA

Topics USA Property Casualty