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Kristi Ann Matus to Head Aetna’s Government Services Organization

Former USAA CFO to Drive Expansion of Aetna’s Medicare and Medicaid Businesses

Monday, February 20, 2012 4:15 pm EST



Public Company Information:

"Pat has been an exemplary leader at Aetna and has made significant contributions to our success in many areas of the enterprise. We wish her well in her future endeavors."

HARTFORD, Conn.--(BUSINESS WIRE)--Aetna (NYSE: AET) today announced the hiring of Kristi Ann Matus as executive vice president and head of Aetna Government Services, a newly-formed business unit comprised of Aetna’s Medicare, Medicaid, Public & Labor and Federal Employee Health Benefit Plan businesses. Matus joins Aetna from USAA, where she was executive vice president and chief financial officer. Matus will report to Mark T. Bertolini, Aetna chairman, CEO and president, and will serve on the company’s Executive Committee.

“Kristi is a strong and accomplished leader with deep experience in operations and finance who rose to the top of USAA, an organization we deeply admire for its world-class customer service and marketing savvy,” said Bertolini. “Our new government unit is comprised of businesses that represent significant growth opportunities for Aetna as the population ages and state and local governments seek solutions to growing health care liabilities. We are pleased to recruit Kristi to lead these businesses and serve on our Executive Committee.”

Prior to joining Aetna, Matus held a variety of senior leadership roles at USAA, including president of USAA Life Insurance and Investment Company and vice president of Life Solutions for the USAA Life Insurance Company. Before joining USAA, Matus was EVP and chief operating officer of Thrivent Financial Bank in Appleton, Wisconsin.

Matus said, “I am excited to join Aetna at this point in its history, and I am proud to be part of an organization that is helping to shape the future of health care in our country. Aetna is uniquely positioned to partner with governments at all levels to develop solutions that help them get the most value for their health care spend and address their health care liabilities. Aetna’s ability to help consumers be more engaged in their own health and wellness, combined with its positive, values-based culture, provides a competitive advantage in the Government marketplace.”

Bertolini said that Patricia A. Farrell, who has headed Aetna’s National Accounts, Government and Specialty Products group, will retire from Aetna after 23 years of distinguished service. “Pat has been an exemplary leader at Aetna and has made significant contributions to our success in many areas of the enterprise. We wish her well in her future endeavors.”

In addition to creating the Government Services unit, Aetna will consolidate its commercial insurance businesses under Executive Vice President Frank G. McCauley. The Commercial Businesses unit will include Aetna’s National Accounts in addition to its Middle Markets, Small Group/Individual, Voluntary/Direct to Consumer, and Prodigy businesses.

“Frank is a focused, driven leader who has a proven ability to deliver profitable growth in the businesses he runs,” said Bertolini. “Our National Accounts business is regaining momentum in the marketplace as our value proposition is resonating with large employers seeking quality and total cost solutions. We believe bringing our large, medium and small employer groups under Frank’s leadership will enhance our ability to grow our core commercial insured business.”

About Aetna

Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 36.4 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities and health care management services for Medicaid plans. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see


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Matt Wiggin, 860-273-4857