Patrick Geraghty is the new president and chief executive officer of Blue Cross and Blue Shield of Minnesota.
Geraghty, 49, succeeds Mark Banks in the position, who is retiring after 23 years at the not-for-profit insurer. Banks, 59, has been in the top job since 2000.
Most recently, Geraghty was senior vice president of the service division of Horizon Blue Cross and Blue Shield of New Jersey, which has 3.6 million members. He has also held executive positions at Prudential Insurance Co. of America.
The Eagan, Minn.-based insurer has 2.9 million enrollees and is the largest health plan the state. -- by Rebecca Vesely