Sep. 30--The Hartford, beating its self-imposed deadline by three months, has brought in a longtime Bank of America executive as chairman and CEO, succeeding Ramani Ayer, who is retiring.

Liam McGee, who until recently headed Bank of America's vast retail network, takes over the dual role Thursday, The Hartford said late today. McGee, 55, operated the largest retail banking operation in the nation, with more than 50 million customers and more than 6,100 locations.

The Hartford Financial Services Group Inc., with 12,000 employees in central Connecticut, is emerging from a financial crisis of the past year, in which its capital reserves, sapped by losses from bad investments, had to be shored up by multi-billion-dollar infusions from German insurer Allianz, and the U.S. Treasury's bailout.

Ayer, who has spent his entire career at The Hartford, starting in 1973, said in June he would retire by the end of this year, at age 62. Widely credited for operations strategy, Ayer has been a strong supporter of maintaining work in the headquarters region, where the company is by far the largest employer among insurers.

Several top executives who might have been successors to Ayer left over the last two years, notably Thomas Marra, who was named president and chief operating officer in 2006. The choice of someone from the banking world rather than property-casualty or life insurance is consistent with The Hartford's strong emphasis on building and maintaining its brand among customers -- and with the company's place as a financial institution.

"Liam's strong track record of success in leading large, complex financial services organizations makes him the ideal person to build on The Hartford's strong foundation," said Michael G. Morris, The Hartford's presiding director.

Ayer will remain until Nov. 1, retiring after a brief transition, the company said.

"Liam is a proven leader in the financial services industry with an outstanding set of skills, a deep appreciation of balancing risk and return, and broad experience in a variety of financial businesses," Ayer said. "He also shares The Hartford's values, including product and customer service excellence, integrity, and a commitment to giving back to the communities in which we operate."

McGee, who joined Bank of America in 1990, was until recently president of the consumer and small business bank for Bank of America Corp. He oversaw the Charlott-based banking giant's global technology unit, and, The Hartford said in a written statement, "was instrumental in leading the integration of a number of companies acquired by Bank of America over the years, including FleetBoston."

Bank of America, with the former Fleet franchise, is Connecticut's largest bank.

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