Humana names Goldman Sachs executive Kane as CFO

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News,Business

LOUISVILLE, Ky. (AP) — Health insurer Humana Inc. has picked a Goldman, Sachs & Co. executive to replace the retiring James Bloem as its chief financial officer starting in June.

The Louisville, Ky., company said Monday after markets closed that Brian A. Kane, 41, also will serve as a senior vice president and work with Steve McCulley, the interim chief financial officer who will stay on as chief accounting officer.

Humana had announced in February that Bloem, who has been with the insurer since 2001, planned to retire.

Kane serves as a managing director at Goldman, Sachs, where he has worked for nearly 17 years. He holds a master's degree in business administration from Harvard.

Humana is one of the nation's largest providers of Medicare Advantage plans, which are privately run, subsidized versions of the government's Medicare program for the elderly and disabled people.

The insurer's stock closed at $112.72 on Monday and has already climbed nearly 16 percent so far this year.

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