September 16, 2014 6:29 PM ET

Insurance

Company Overview of United Services Automobile Association

Company Overview

United Services Automobile Association provides banking and financial products and services to the military and their families in the United States. The company offers banking products and services comprising checking and savings accounts, certificates of deposit, credit cards, home mortgages, home equity products, and auto loans; and insurance solutions, such as auto, home and property, life, and other insurance solutions, as well as health insurance products comprising medicare, dental, and vision solutions. It also provides investment solutions consisting of mutual funds, individual retirement accounts, and annuities; managed money, and college savings solutions; and stock, bond, fund, an...

9800 Fredericksburg Road

San Antonio, TX 78288

United States

Founded in 1922

25,800 Employees

Phone:

210-531-8722

Key Executives for United Services Automobile Association

Chief Executive Officer
Age: 68
Chief Financial Officer
Chief Operating Officer
Age: 48
President of USAA Federal Savings Bank
President of Financial Advice & Solutions Group
Age: 48
Compensation as of Fiscal Year 2014.

United Services Automobile Association Key Developments

USAA and Mitek Settle Lawsuit

USAA and Mitek announced that they have agreed to settle all pending litigation between them. USAA and Mitek Systems have been in litigation since March 29, 2012. Over the past several days, the parties have met and conferred in good faith concerning the claims remaining for trial. As a result of this discussion, the parties have agreed to resolve these claims as follows: USAA will move to dismiss all of its remaining claims, including its claims for misappropriation of trade secrets, breach of contract, fraud, inequitable conduct, and invalidity of Mitek's patents. Mitek will move to dismiss all of its remaining claims, including its claims for trade defamation and violations of the Lanham Act. Mitek covenants not to sue USAA for patent infringement for products currently sold, marketed, or advertised by USAA, including its Deposit@Mobile application. The parties acknowledge that distinct patent rights exist for each of them. Neither party admits liability on any claim, and neither party is making any payment to the other. USAA is retaining its license to use Mitek's Quick Strokes, Quick FX Pro, and Image Score software products.

United Services Automobile Association Announces Management Changes

United Services Automobile Association announced that COO Stuart Parker has been named to succeed current CEO Joe Robles when he retires at the end of February 2015. Carl Liebert, president of USAA Capital Corp., will succeed Parker in the role of COO, effective immediately. Parker served as CFO from 2012 to 2014, and was named COO in May. Liebert has been with the company since 2013.

USAA Announces Management Changes

USAA financial chief Stuart Parker has been promoted to the newly created position of chief operating officer. Parker will oversee all of USAA's business operations and report directly to CEO Joe Robles Jr. Parker was previously identified by the San Antonio Express-News as a potential internal candidate to succeed Robles, who plans to retire early next year. Robles' successor will be named later this year. Among the businesses Parker will oversee as COO are: USAA Capital Corp., which includes its banking, financial advice and real estate operations; its property and casualty insurance unit; and its member experience organization. Parker has served as chief financial officer since 2012. He joined USAA as a certified financial planner in 1998. Laura Bishop, who has been deputy CFO since 2012, will replace Parker as CFO. Its member experience organization has been split into two units: enterprise strategy and marketing, and member experience. Wayne Peacock, who has been executive vice president of member experience, will lead enterprise strategy and marketing. The unit will focus on corporate and market strategy, data and analytics, and planning. Peacock will report to Robles. The member experience organization will be led by Shon Manasco, who has been chief administrative officer. Manasco will report to Parker. Both Peacock and Manasco also have been identified by the Express-News as potential candidates to succeed Robles. Dana Simmons, a human-resources executive vice president, will become chief administrative officer. He joined USAA in 2010. Mark Reid, deputy human resources officer, has been promoted to executive vice president of human resources. He joined USAA last year.

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