San Antonio s USAA expanding to Charlotte; intends to employ 750
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USAA CEO and President Wayne Peacock said its expansion to Charlotte, N.C., will give it access to banking and technology professionals.Staff file photo
USAA said Thursday it’s expanding its operations to Charlotte, N.C., where it expects to eventually employ 750 people.
The San Antonio insurer and financial services company, which serves the military community, chose Charlotte because of the city’s “highly skilled” workforce in the financial services sector.
“It gives us even greater access to some of the top banking and technology professionals in a community that has deep understanding and care for the military,” USAA CEO and President Wayne Peacock said in a statement.
San Antonio insurer USAA prospers during the pandemic as net worth soars $5 billion
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The USAA headquarters building, with downtown San Antonio in the background, in a 2018 aerial photo. The company reported record revenue of $36.3 billion in 2020.William Luther, Staff / San Antonio Express-News
While the pandemic caused a financial toll for many last year, San Antonio insurer and financial services company USAA prospered.
USAA reported its net worth its assets minus liabilities jumped more than $5 billion, or 14.5 percent, to end 2020 at an all-time high of $40.4 billion. The company considers net worth a measure of its financial strength.
USAA’s 2020 results left Douglas Heller, an advocate at the Consumer Federation of America, bewildered.