(Bloomberg) -- United Services Automobile Association, the provider of financial products to military families, promoted Stuart Parker to chief executive officer as it seeks to extend growth ininsurance and banking.

Parker, 53, has been chief operating officer since May and was previously chief financial officer, the San Antonio-based company said today in a statement on its website. He replaces Josue Robles, 68, who is stepping down at the end of February and was CEO since 2007. The company announced earlier this year that Robles would be leaving.

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