USAA Announces Updates to Senior Leadership Team

July 24, 2024 at 11:23 AM EDT

Two current company executives to take on new roles

USAA today announced that current Chief Financial Officer (CFO), Jeff Wallace, will become the company’s new chief audit executive. Brett Seybold, senior vice president and senior financial officer for USAA’s property and casualty business will replace Wallace as CFO. The moves, which come after the departure of the company’s chief audit executive, will enable USAA to continue to provide exceptional service to members today and for generations to come.

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USAA Chief Audit Executive Jeff Wallace (Photo: Business Wire)

"As we transform the association to meet our members’ evolving needs, we’re putting key leaders and capabilities in place to continue serving well today and into the future. Jeff and Brett continue to demonstrate a deep commitment to our mission while delivering strong results for our membership,” said Wayne Peacock, USAA president and CEO.

As CFO, Wallace led the organization through the challenging post-pandemic financial environment, ensuring the association’s financial strength and ability to continue to serve members well. He joined USAA four years ago from Bank of America, where he served as the Chief Financial Officer of the Consumer Banking and Global Wealth and Investment Management businesses, leading the re-engineering of its financial systems, forecasting and planning processes. Over his more than 30-year career, he has held leadership positions with a variety of large financial institutions. He has experience streamlining work processes and simplifying organization strategies, as well as working with federal regulators.

Seybold, a 20-year USAA employee, becomes the CFO after previously serving as the company’s treasurer where he helped guide capital, liquidity and investment activities through the global financial crisis, COVID pandemic and recent inflation-driven Fed rate hikes. Seybold also led the team that created USAA’s Transformation Office, setting into motion several initiatives that are delivering financial value and enabling the association to provide better, more personalized service, products and advice to members in the coming years.

About USAA

Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and retirement solutions and serves more than 13.5 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in eight U.S. cities and three overseas locations and employs more than 37,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook or X (@usaa), or visit usaa.com.