Aetna Inc. said Monday it has hired a Citicorp executive, Alan J. Weber, to be its vice chairman for strategy and finance.
Mr. Weber, 49, will join the insurance company Aug. 1, reporting to Richard L. Huber, chairman and chief executive officer. He will oversee Aetna's corporate finance, corporate controller, internal audit, and corporate actuarial functions. In addition, he will be responsible for corporate planning and capital management.
Mr. Weber spent 27 years at Citicorp in its consumer business and in operations and finance. Since 1994, he has been chairman of Citibank International, responsible for consumer businesses in Latin America and Asia-Pacific.
His responsibilities at Citibank International have been split into two functions in anticipation of the bank's $70 billion merger with Travelers Group. Simon Williams oversees Citi's consumer businesses in Asia-Pacific, and Alvaro de Souza has been named to lead consumer operations in Latin America.
Mr. Weber's position at Aetna was previously held by Mr. Huber, who joined the health and financial services company in 1995. Last August, Mr. Huber was named president of Aetna. He became chief executive officer and was elected chairman in March.