USAA Selects Chad Borton as New Bank President

SAN ANTONIO, April 7, 2017 /PRNewswire/ -- USAA announced today that Chad Borton, executive vice president of consumer banking at Fifth Third, has joined its executive team as president of USAA Bank. He will join USAA on May 15, reporting to EVP and Chief Operating Officer Carl Liebert, and will be a member of USAA's executive council.

"Chad has the right vision and expertise to lead USAA through one of the most exciting periods in banking," said Stuart Parker, CEO of USAA. "He brings invaluable insights into changing consumer demands and emerging trends, having directed consumer banking in some of the nation's largest financial institutions. As a former Army officer, he understands the everyday financial needs and struggles of the military community, especially among those actively serving."

During Borton's tenure at Fifth Third, he was responsible for retail and business banking, digital banking, auto lending, consumer credit, collections, process improvements, and business controls. Before joining Fifth Third, he served in several senior leadership positions for JP Morgan Chase, including head of branch administration, consumer bank CFO, and head of retail distribution network. He also held roles at McKinsey & Co. and Wachovia.

"As a member for 25 years, I'm honored to join USAA and help build on its legacy of exceptional customer service for the military community," said Borton. "USAA's focus on innovation and its impeccable reputation position it for an exciting future."

He holds a bachelor's degree in business economics and public policy from Indiana University and a master's degree in business administration from Harvard Business School.

About USAA
The USAA family of companies provides insurance, banking, investments, retirement products and advice to 12 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.

SOURCE USAA