Stuart Parker, VSU Graduate, Selected To Be USAA’s Next CEO
Aug. 28, 2014 – USAA Chairman of the Board Gen. Lester Lyles, USAF (Ret.), announced today that USAA’s Chief Operating Officer Stuart Parker, a Valdosta State College of Business graduate, 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, South Carolina. 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 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.”