Allstate hires chicago investment chief Neely for finance post

Northbrook-based Allstate Corp., the largest publicly traded U.S. home and auto insurer, hired Chicago Treasurer and Chief Investment Officer Stephanie Neely for a finance role at the company.

Neely, who starts Dec. 1, will be vice president, treasury, Allstate said today in a statement. She'll oversee liquidity, capital, ratings and corporate structure.

"We are pleased that Stephanie is joining Allstate and look forward to benefiting from her financial management expertise and broad leadership capabilities," Chief Financial Officer Steven Shebik said in the statement.

Chief Executive Officer Tom Wilson has been adding staff with financial expertise. The company said last month that it hired Russell Mayerfeld to oversee about $10 billion of investments, including private-equity, infrastructure and real estate holdings.

Neely has worked for the city of Chicago for eight years, Allstate said. Mayor Rahm Emanuel last month said that Kurt Summers Jr., senior vice president of investment firm Grosvenor Capital Management, would become treasurer, after Neely announced plans to return to private business.

She previously held roles at PaineWebber Inc., First Chicago, and Northern Trust Corp. Neely has a bachelor's degree from Smith College and an MBA from the University of Chicago's Booth School of Business, Allstate said.