McGee struck a deal in late 2012 to sell a life-insurance unit to Prudential Financial Inc. and disposed of a broker- dealer, retirement-plans business and annuity units in the U.K and Japan. The stock closed at $35.86 on the day his retirement was announced, compared with $26.50, the last day before he became CEO.
“Liam McGee has led a generational transformation of Hartford, positioning it to prosper by focusing on operations with industry-leading positions,” Paulson & Co. said in a statement when the CEO announced his departure. “We thank him for his efforts on behalf of shareholders.”
Chris Swift, who was then chief financial officer, was named CEO to replace McGee on July 1.
Irish Roots
Liam Edward McGee was born in County Donegal, Ireland, in 1954. His father, a Los Angeles bus driver who worked his way into management, moved the family from Ireland to California when Liam was a child.
McGee graduated from the University of San Diego in 1976 with a degree in biology. He played as a pitcher and outfielder for the university’s baseball team, was active in school government and wrote for the student newspaper.
He gave a commencement address in 2009, the year his son, Stephen, graduated from the school.
“My advice was that whatever you do in life, you have to have a deep passion for it,” McGee said in an October 2009 interview with the university. “If you have that passion, it won’t feel like work.”
Banking Career
McGee received an MBA from Pepperdine University and, in 1984, a law degree from Loyola Law School in Los Angeles.