Banking

Former Bank of America executive Liam McGee, 60, dies

Liam McGee
Liam McGee Via Bloomberg

A former Bank of America executive who went on to run The Hartford insurance company died on Friday of cancer at age 60.

During a more than two-decade career at Bank of America, Liam McGee climbed the executive ranks, ultimately running the consumer banking business of the largest U.S. bank by deposits. Soon after leaving the bank in 2009, he landed the top spot at The Hartford Financial Services Group, where he led the company’s turnaround following the financial crisis.

“Thanks to Liam’s leadership and tireless efforts, the company has completed a strategic and financial transformation and is well positioned for future success and prosperity,” Chris Swift, The Hartford’s CEO, said in a statement this week.

McGee was CEO until July and stepped down as executive chairman in January. The Irish-born McGee and his family had relocated recently to California, where he grew up.

In a statement, former Bank of America CEO Ken Lewis praised McGee as a visionary.

“We gave him huge challenges at Bank of America and had high expectations for what he would do,” Lewis said. “He exceeded those high expectations every time and left an indelible imprint on all with whom he worked.”

In January 2013, The Hartford disclosed McGee underwent surgery for a precancerous brain tumor. In June, he said he was stepping down as CEO to devote more time to recovery from an additional medical procedure.

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