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Former Optum Inc. executive John Rex on Thursday was named chief financial officer of UnitedHealth Group Inc.
Mr. Rex replaces David S. Wichmann, who will remain as president of the Minnetonka, Minnesota-based insurer, UnitedHealth said in a statement.
Mr. Rex has been the executive vice president and CFO of UnitedHealth's health care services subsidiary, Optum, since March 2012, according to a company filing with the U.S. Securities and Exchange Commission.
He will now oversee UnitedHealth's treasury, mergers and acquisitions, and venture and private equity investments, according to the statement.
According to the SEC filing, Mr. Rex's based salary is $800,000 with an annual cash incentive target of 115% of that salary. He will also receive equity awards valued at $2.5 million, the SEC document states.
Tami Reller, who was formerly Optum's executive vice president and chief marketing officer, replaces Mr. Rex as Optum's CFO.
“The deep bench of our leadership team has long been a hallmark of UnitedHealth Group. John Rex has been an exceptional leader at Optum and a highly valued contributor to the enterprise overall, so our company will be very well-served with him in his new role,” Mr. Wichmann said in the statement.