Michael Moran Appointed as Bank President by USAA Bank Board
USAA Bank’s Board of Directors has appointed Michael Moran as the new President, effective January 30. Moran, who had been serving as the interim president, brings over two decades of banking experience and a strong commitment to USAA’s mission of serving military families and their communities. He was appointed to this critical role after successfully leading in the interim position, showcasing his leadership capabilities and understanding of the unique needs of military families.
“I am incredibly honored to be appointed as the president of USAA Bank,” said Moran. “Our team will remain focused on building the Bank’s financial strength, enabling us to provide our members with the competitive products and exceptional service they deserve. USAA’s mission is unique, and I look forward to advancing the capabilities of this great organization.” His appointment underscores his deep dedication to the Bank’s core values and its mission of serving military members, which has been a guiding force throughout his time at USAA.
Brad Conner, Executive Chairman of USAA Bank, expressed his confidence in Moran’s leadership after his appointment. “In the interim role, Michael helped inspire our teams to enhance the member experience while focusing on our most important priorities,” Conner said. “His passion for our mission and unwavering dedication to members and colleagues is evident in every decision he makes. I am confident that he is the right leader to guide the Bank forward, and he has the full support of the Board.”
Before officially being appointed as President, Michael Moran held several key leadership roles at USAA Bank, including senior vice president and chief financial officer. Moran also oversaw business finance, pricing, and financial planning and analysis (FP&A), giving him a comprehensive understanding of the Bank’s operations and financial health. His prior experience was essential in shaping the vision for the future of USAA Bank and played a significant role in his appointment to the position of President.
Wayne Peacock, USAA’s outgoing President and CEO, shared his excitement regarding Moran’s appointment. “I’ve witnessed firsthand Michael’s passion for our mission and his commitment to our members and teammates,” Peacock said. “He also has Juan’s full support, who has observed Michael’s leadership as a member of USAA’s Board of Directors over the past four years. We both know he’s the right leader to continue the Bank’s momentum and take excellent care of military families.” Peacock’s comments further validate the Board’s decision to appoint Moran as the next leader of USAA Bank.
Peacock’s support, along with the backing of incoming CEO Juan C. Andrade, highlights the strong foundation that Moran will continue to build upon. Andrade’s confidence in Moran’s leadership is evident, given their past collaboration and Moran’s performance in senior leadership roles at USAA. Moran’s appointment also signals a smooth transition in leadership at USAA, ensuring continuity and commitment to its mission.
Before joining USAA, Michael Moran spent nearly a decade at Key Bank, where he advanced through several leadership positions, including senior vice president and CFO of the Bank’s Real Estate Capital division. Additionally, he served as senior vice president and head of FP&A, further honing his expertise in financial management. Moran’s appointment at USAA was a natural progression given his extensive experience in banking and finance, providing him with the knowledge necessary to lead USAA Bank effectively.
Moran holds a bachelor’s degree in economics from Central Michigan University, which laid the foundation for his distinguished banking career. His academic background, combined with his vast experience in the financial sector, makes him a well-suited leader for USAA Bank. As the appointed President, Moran’s strategic vision will guide USAA Bank toward its goals of growth, innovation, and continued service excellence.
USAA has a storied history, founded in 1922 by a group of military officers. Over the years, it has grown to become one of the leading providers of insurance, banking, and retirement solutions, serving more than 13.5 million members of the U.S. military, veterans who have honorably served, and their families. Headquartered in San Antonio, USAA operates in eight U.S. cities and three overseas locations, employing over 37,000 people globally. The company is also actively involved in supporting national and local nonprofits, especially those that assist military families and communities where USAA employees live and work.
Under Michael Moran’s leadership, USAA Bank is well-positioned to continue offering financial products and services that cater specifically to the needs of military families. His vision, combined with his wealth of experience and steadfast commitment to USAA’s mission, will undoubtedly elevate the Bank, ensuring it remains a trusted partner for its members. As Moran has been appointed to the role of President, his leadership will be central in driving the Bank’s efforts to serve military families and help them achieve financial well-being.
As USAA looks ahead, it is clear that Michael Moran’s appointed will be crucial in continuing the company’s growth and upholding its core values. His leadership will help USAA adapt to the evolving financial landscape while maintaining its dedication to innovation and service excellence. With his guidance, USAA Bank is poised for continued success, reinforcing its commitment to serving military families and helping them navigate their financial journeys. Michael Moran’s appointed to the role of President is the next step in USAA’s ongoing success story and its unwavering mission to support the military community.
