Stuart Parker Selected to be USAA’s Next CEO

Carl Liebert to succeed Parker as COO

SAN ANTONIO--()--USAA Chairman of the Board, Gen. Lester Lyles, USAF (Ret.), announced today that USAA’s Chief Operating Officer Stuart Parker 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.

“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.”

“After serving USAA’s membership in numerous capacities for the past 16 years, I’m deeply honored and humbled to be selected to lead this great organization,” Parker said.

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 joined USAA in 1998 after completing his MBA at St. Mary’s University and earning a Certified Financial Planner® designation. He 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.

“Having worked with Stuart for many years, I know he’s ideally suited to lead USAA forward,” said current USAA President and CEO Joe Robles. “Stuart was instrumental in building USAA’s financial advice capabilities, growing our flagship P&C line of business, and then managing our financial, strategic and operational planning. He’s also a veteran and a military spouse. He knows what it means to serve.”

Carl Liebert Named USAA Chief Operating Officer

Effective immediately, USAA Capital Corporation 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 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.

“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 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.

About USAA

The USAA family of companies provides insurance, banking, investments, retirement products and advice to 10.4 million current and former members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving our nation in the U.S. military or have received a discharge type of Honorable – and their eligible family members. Founded in 1922, USAA is headquartered in San Antonio. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.

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Contacts

USAA
Roger Wildermuth, 916-717-1072
roger.wildermuth@usaa.com

Stuart Parker (Photo: Business Wire)

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Release Summary

USAA’s Chief Operating Officer Stuart Parker has been named to succeed current CEO Joe Robles when he retires at the end of February 2015.

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Contacts

USAA
Roger Wildermuth, 916-717-1072
roger.wildermuth@usaa.com