Blue Cross and Blue Shield Names Jamie Rice New CFO

Jamie Rice is the latest appointment to the Eagan-based insurer’s executive team, which has recently seen a series of departures.

Blue Cross and Blue Shield of Minnesota has appointed Jamie Rice as its new chief financial officer (CFO), the Eagan-based insurer announced Monday.

Rice, who currently serves as principal and CFO at Minneapolis-based investment firm Yukon Partners, will join Blue Cross on June 18.

Blue Cross’ announcement comes about two months after three of its top executives—CFO Pamela Sedmak, Chief Medical Officer Gregory Gilmet, and Kathleen Mock, senior vice president of marketing and public and health affairs—left the company. Their departures came about a month after Kenneth Burdick took the helm as the organization’s CEO.

In April, the company announced a series of new appointments, including Colleen Connors as senior vice president of human resources, communications, community relations, and facilities and Patsy Riley as the organization’s senior vice president of government programs, government affairs, and public policy.

Blue Cross spokesman Jim McManus told Twin Cities Business at the time that the responsibilities previously held by Mock have been split between Connors and Riley.

In a Tuesday e-mail, McManus said that the company has not yet appointed a new chief medical officer.

Before joining Yukon, Rice worked for Minnetonka-based UnitedHealth Group, Inc., where he held several executive positions, including CFO and vice president of finance for the company’s commercial business. He also previously worked at Richfield-based Best Buy and Illinois-based Arthur Andersen.

In his role as Blue Cross’ CFO, Rice will oversee the organization’s financial controls and systems, financial planning, tax, treasury, investments, corporate finance, underwriting, and actuarial functions.

“Jamie’s considerable industry experience and financial acumen will be a great asset in managing the financial strength of Minnesota’s largest health plan,” Blue Cross CEO Ken Burdick said in a statement. “We welcome him to our leadership team.”

Blue Cross and Blue Shield of Minnesota has more than $9 billion in annual revenue, making it the largest insurer that sells health plans within the state.