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Blue Cross welcomes new CEO
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Blue Cross and Blue Shield of Minnesota has a new leader.
The state's biggest health insurance provider announced Monday that its new president and CEO is Patrick Geraghty. Geraghty, 49, comes to Minnesota from Horizon Blue Cross Blue Shield of New Jersey, where he was senior vice president of the service division.
Geraghty succeeds Dr. Mark Banks, 59, who has served as CEO of the nonprofit since 2000 and will be retiring after 23 years of service. Banks' total compensation in 2007 was $1.67 million.
"[Geraghty] has a great deal of industry knowledge, as well as years of health care management and operations experience, and brings with him a deep understanding of health care issues," Dr. John Kleinman, board chairman for Blue Cross and Blue Shield of Minnesota, said in a statement. "These qualifications and his strong track record as a leader make him an outstanding choice for our chief executive officer."
Eagan-based Blue Cross was chartered in 1933 as Minnesota's first health plan. It covers 2.9 million members in Minnesota and nationally through its health plans or plans administered by its affiliated companies.
Paul Walsh • 612-673-4482
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