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Letter to the Editor
Friday May 20
Allstate Names Wilson President and COO
The Allstate Corporation has announced that Thomas J. Wilson has been elected president and chief operating officer, effective June 1, 2005. In this newly created position, Mr. Wilson will be responsible for all of Allstate's insurance operations, including those of Allstate Protection and Allstate Financial. Mr. Wilson will continue to report to Edward M. Liddy, chairman and CEO of The Allstate Corporation."This move will enable us to continue the momentum that has been demonstrated over the last several years with the implementation of our better, bigger and broader strategy," Liddy said in commenting on the announcement. "We have been successful at driving profitable growth at both Allstate Protection and Allstate Financial. Bringing the two organizations closer will help us focus on accelerating that progress, and give us greater opportunity to leverage the Allstate suite of insurance and financial products on behalf of Allstate's customers. This approach further refines our delivery of an enhanced level of service to all our customers."
Wilson is currently and will remain president of Allstate Protection, which combines the Allstate and Encompass property and casualty offerings through Allstate and Independent Agencies, respectively. Since he assumed this position in October 2002, Allstate Protection has significantly increased its profitability and has begun to grow market share.
He was chairman and president of Allstate Financial from 1999 to 2002, where he spearheaded that business unit's drive into the design and distribution of an expanded range of financial products aimed at meeting the retirement needs of Allstate customers. Prior to his role at Allstate Financial, Mr. Wilson served as Allstate's chief financial officer. Mr. Wilson joined Allstate in 1995 from Sears, Roebuck and Co., where he had been vice president of strategy and analysis, responsible for strategic planning, financial planning and analysis, and special projects for the corporation.
Prior to Sears, he was managing director of mergers and acquisitions at Dean Witter Reynolds, and also held various financial positions at Amoco Corporation.
The Allstate Corporation is the nation's largest publicly held personal lines insurer.
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