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CNBC Global CFO Council

Paul Smith, State Farm Insurance

Paul Smith
Source: State Farm Mutual Automobile Insurance Company
Paul Smith

Paul Smith, CPCU, CLU, is executive vice president and chief financial officer of State Farm Mutual Automobile Insurance Co. in Bloomington, Ill.

Smith joined State Farm in 1988 at corporate headquarters. From 1990 to 2001, Smith held a variety of positions in the financial functions at State Farm, in both corporate and field locations. He was named executive assistant to the Chairman's Council in 2002 and was promoted to vice president, financial operations, in 2004.

In 2005, Smith was named operations vice president in the mid-America zone, and in 2007 senior vice president – mid-America zone. He joined the Chairman's Council in 2009, assuming the role of senior vice president in 2010. Smith was named executive vice president in January 2013.

Smith received a bachelor's degree in accounting from the University of Wisconsin at Eau Claire and is a graduate of the General Managers Program at Harvard Business School.

He passed the Certified Public Accounting exam in 1986 and earned the Chartered Life Underwriter (CLU) designation in 1990 and the Chartered Property Casualty Underwriter (CPCU) designation in 1992. Smith currently serves as a trustee of the Cluff Research Fund.


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