USAA's president and chief executive is retiring.

Maj. Gen. Josue Robles will leave the company in the first quarter of 2015, the company said in a press release Friday. The $62 billion-asset USAA plans to announce a successor by the end of this year.

"It has been my privilege to work at USAA for nearly 20 years," Robles said in the release. "Retiring one year from now will be the right time for USAA, and right for my family and me."

Robles served in the U.S. Army for 28 years before joining USAA as chief financial officer and controller in 1994. He eventually became corporate treasurer and chief administrative officer. He took on his current posts in 2007.

Under Robles' tenure, USAA expanded its membership eligibility to include all people who have ever honorably served in the military as well as their families. The company grew its members by 53% and expanded its revenue by 45% during his time at the helm.

Robles "has established a successful strategy for USAA that is enduring," Gen. Lester Lyles, USAA's chairman, said in the release. "He is also committed to advocating for military families, and has guided the association to a leadership role in hiring veterans and military spouses, establishing USAA as a role model for all American corporations."

American Banker selected Robles as Innovator of the Year in 2009, citing his commitment to advancing mobile banking services and other online features for far-flung members of the U.S. armed forces.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.