Stories by Ben Worthen and Stephanie Overby

USAA IT chief exits

When Steve Yates was hired as CIO of USAA in mid-1999, the financial services company's IT expenses were rising twice as fast as its revenue. In less than five years, Yates transformed USAA's IT department into ITCO, a subsidiary with its own profit and loss lines. Over the past three years, USAA's IT expenses dropped dramatically. Revenue skyrocketed.