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US car insurance giant GEICO taps Wells Fargo for next CLO
Tangela Richter replaces Seth Ingall, who is retiring after almost 40 years with the insurer
Tangela Richter Photo courtesy of GEICO
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US insurance company GEICO has hired Tangela Richter as chief legal officer, replacing Seth Ingall who is retiring.
Richter joins from US bank Wells Fargo, where she was deputy general counsel and secretary. At GEICO, she will oversee all of its legal functions, as well as government and regulatory affairs. She will report directly to chairman, president and CEO Todd Combs.
GEICO is the third-largest auto insurer in the US, providing insurance cover for cars, motorcycles and homeowners.
Combs said: “We are very fortunate to have someone with Tangela’s talents and experience leading our legal, government and regulatory affairs team. Her exceptional problem-solving skills along with her proven ability to deliver in a rapidly changing environment will have a profound impact on our company.”
Richter arrives after just over three years at Wells Fargo, having previously spent more than four years at American Express, most recently as managing counsel. She also had spells at Lending Club, where she was deputy GC, and Capital One, where she spent close to eight years, four of them as functional GC.
Before her corporate career, Richter spent five years at the US Securities and Exchange Commission, two of them as branch chief for its corporation finance division. Prior to that she worked in private practice, first as a tax associate at Simpson Thacher & Bartlett, and then as a corporate associate at Bass Berry & Sims.
She said: “I look forward to working closely with our excellent legal team, the executive leadership team and teams across the entire company as we continue to deliver best-in-class products, services and experiences for our millions of customers.”
Ingall, meantime, is set to leave GEICO after an almost 40-year career with the company that began while still in college back in 1986. He took on the CLO role in 2013.
His departure follows the retirement in September of GEICO GC Jonathan Shafner, who had spent almost three decades with the insurer in a number of legal roles, the last three of them as GC.
GEICO is not the only US insurer to make changes to its legal leadership in recent months. In December, AIG named Rose Marie Glazer as its new GC after previous appointee Patricia Walsh pulled out of the move to remain as GC at payments provider Stripe.
