Robert McDermott, 86, Led Insurance Giant USAA
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Retired Brigadier General. Robert McDermott, an Air Force Academy dean who became chairman of the insurance giant USAA and of the San Antonio Spurs, died yesterday. He was 86.
McDermott was known to many by the nickname “McD” and long was considered one of the most influential people in San Antonio. He moved to the city in 1968 when he joined USAA, United Services Automobile Association.
McDermott became president and chairman of the company and oversaw its growth from a firm with 2,600 employees that insured automobiles for military officers into a multibillion-dollar corporation with more than 16,000 employees that offered financial services.
During his tenure, USAA was named one of the top 10 companies to work for by the book “The 100 Best Companies to Work for in America.”
McDermott stepped down as head of USAA in 1993, shortly after leading a group of 22 local investors in purchasing the San Antonio Spurs. He became chairman of the Spurs investor group.
A native of Boston, McDermott grew up in the Northeast and graduated from West Point in 1943. He became a fighter pilot and after World War II served on Dwight Eisenhower’s staff.
