BCS Financial Corporation has announced that Peter Costello has been appointed as president and chief operating officer of BCS Financial Corporation, effective May 21.
"We're pleased to welcome Peter Costello in his newly expanded role as president and chief operating officer of BCS Financial Corporation," said Dan Loepp, chair of the BCS Board of Directors. "During this time of transformation in the healthcare industry, we are confident that Peter possesses the experience, perspective and capabilities necessary to lead and grow BCS in the coming years."
"It's an honor and a privilege to be asked to lead this successful team of talented and dedicated associates during this period of dramatic change in our industry," said Costello. "I look forward to everything we can accomplish together while continuing to provide the growth, diversification and protection solutions our customers expect from us."
Costello, who previously served as the company's chief operating officer, brings more than 20 years of experience in healthcare and technology to his new role. Prior to joining BCS in 2014, Costello was senior vice president at Cogito Corp., a behavior analytics company named by Inc. Magazine as one of 2014's fastest-growing companies. Peter served as vice president at both Blue Cross and Blue Shield of Massachusetts and Excellus Health Plan, and co-founded two technology-based startups. Peter also served as an officer in the United States Navy and holds a Bachelor of Science in Applied Mathematics from Providence College, a Masters Certificate in Systems Engineering from University of California, Irvine, and a Master of Business Administration with an emphasis in Finance and Statistics from the University of Illinois.
Scott Beacham, who has served as the company's president and chief executive officer and a member of the board since March 2008, will continue his role as chief executive officer until Nov. 30, 2019. Beacham possesses 40 years of experience with Blue Cross and Blue Shield Plans, previously serving as the president and chief operating officer of Excellus Health Plan Inc., and as a business advisor for Group Hospitalization and Medical Services Inc., a Washington, D.C., affiliate of CareFirst Inc.
"Scott Beacham is an exceptional business leader who has served the company with dedication and pride during his tenure. Over the past decade, he has transformed the culture of BCS Financial Corporation into one that supports, protects and enhances the success of Blue Companies across the country. His vision, along with his commitment to excellence, has enabled BCS to consistently deliver for its shareholders and left a lasting mark on the organization," said Dan Loepp. "On behalf of the board, I'd like to thank Scott for his contributions to BCS and wish him well in his future pursuits."
BCS Financial Corporation has more than 70 years of experience delivering a wide range of insurance and financial solutions for Blue Cross and Blue Shield organizations nationwide. Through its subsidiaries, BCS Insurance Company and 4 Ever Life Insurance Company, BCS is licensed in all 50 states and is rated A- (Excellent) by A.M. Best. BCS Financial is headquartered in Oakbrook Terrace, Illinois. Learn more at bcsf.com.
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