A new president and CEO has been named for one of San Antonio’s largest companies, USAA. The move comes nearly five months since Wayne Peacock announced his departure.
Outside at USAA's headquarters in San Antonio, Texas, as seen on June 7, 2023.
On Wednesday, January 8, USAA’s board of directors appointed Juan C. Andrade as USAA CEO and President. He will begin his new role as top dog of the military banker and insurance provider on April 2.
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“USAA is a special association, and the board took great care to find someone with the right expertise, vision and leadership. Juan has a deep respect for our men and women in uniform, having served alongside them to help safeguard our national security,” said USAA board chair, Vice Admiral (USN, Ret.) Jim Zortman. “We know he will continue his track record of building high-performing teams and enhance USAA’s legacy of service.”
Andrade is no stranger to the USAA family, having served on the company’s board of directors for the past four years, taking part in committees on members, risk, financials and tech. He’s also a USAA member with experience as on the customer side of the company.
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The new CEO is coming from Everest Group LTD., which is a multinational insurance provider, where he was acting president and CEO since January of 2020. USAA officials say he transformed Everest into a “globally diversified enterprise” during his tenure. Before that, he was president of global insurance provider Chubb’s international business, reaching over 50 countries.
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The new boss at the helm come April was even recognized by the Wall Street Journal back in 2023 when the news outlet named him one of the World’s Most Influential Decision Makers. Andrade may also be the second CEO in USAA’s history to take on the role without a military background. However, he has experience in the national security sector.
He worked under the Federal Executive Branch in national security, internal affairs and drug policy, according to a statement from USAA.
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Andrade is replacing Peacock who has led the company since February 2020 after taking over for former president and CEO Stuart Parker upon his retirement. Peacock is the first person without a military record to helm the company, which caters to military members and families. He's been with the company for more than 30 years.
Peacock was hailed by USAA officials after announcing his exit from the company back in August for his leadership through the coronavirus pandemic, which included transitioning some 36,000 employees to remote work. He also increased USAA's minimum pay to $21 per hour, provided paid career development time and beefed up benefits such as mental health and family support aid for all employees, according to the release.
