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NEW YORK: Mr Liam E McGee, former head of consumer and small business at Bank of America will replace India-origin banker Mr Ramani Ayer as chairman and chief executive of The Hartford Financial Services Group effective from October 1 this year.

Mr McGee, 55, who was President of the consumer and small business bank at Bank of America has been appointed as chairman of the board of directors and CEO of The Hartford Financial Services Group effective October 1, 2009, insurance-based financial serv ices company said in a statement.

Mr Ayer had announced his intention to retire from the company in June this year. He would resign as Chairman and CEO effective October 1 and would retire on November 1, 2009, following a brief transition period.

Mr Ayer joined The Hartford in February 1997 as Chairman and CEO and has spent his entire career serving the company. Mr McGee joined Bank of America in 1990. During a banking career that spans more than three decades, he developed broad leadership exper ience in consumer banking, corporate and commercial banking, and technology and operations.

Prior to Bank of America, he held senior positions at Wells Fargo. - PTI

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