Ally Financial Appoints Jeffrey Brown to Head its Dealer Financial Services Business as William Muir Elects to Retire by Year-End

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Mar 13, 2014, 01:15 ET

DETROIT, March 13, 2014 /PRNewswire/ -- Ally Financial Inc. (Ally) today announced that it has named Jeffrey Brown (JB), currently senior executive vice president of Finance and Corporate Planning, to the role of president and chief executive officer of the Dealer Financial Services business. In this role, Brown will have oversight for the company's leading automotive finance, insurance and auto servicing operations. He will continue to report to Ally Chief Executive Officer Michael A. Carpenter.

Following a career of more than 30 years with Ally and its former parent, William (Bill) Muir, Ally president and current head of the Dealer Financial Services business, has elected to retire by year-end. Muir and Brown are committed to an orderly transition of responsibilities over the coming months.

"Ally is fortunate to have a very strong management team that has helped to guide the company through a highly complex transformation over recent years," said Carpenter. "Bill has been instrumental in transitioning Ally's Dealer Financial Services business from its captive roots to a market-driven competitor that remains a leader in the industry. I want to thank him for his extraordinary leadership and his commitment to the business and Ally's dealer customers."

Carpenter continued, "JB is a proven leader and has been a critical force in helping to implement Ally's strategic transformation. He has worked closely with the Dealer Financial Services team and, in his new role, is committed to advancing Ally's leading dealer-centric business model. JB has a customer-focused mindset, and I am confident he will be a very effective leader for this business in the next chapter of Ally's evolution."

Brown's current financial responsibilities will be transferred to Ally Chief Financial Officer Chris Halmy. With this move, Halmy will have responsibility for all of Ally's finance, treasury and capital markets activities.

Brown was appointed senior executive vice president of Finance and Corporate Planning in June 2011 and has played a leading role in strengthening Ally's capital and liquidity profile, executing on the company's strategic transformation efforts and repaying the U.S. taxpayer's investment. Brown joined Ally in March 2009 as corporate treasurer and, prior to this, he was the corporate treasurer for Bank of America. Click here for additional information on Jeff Brown.

About Ally Financial Inc.
Ally Financial Inc. is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Commercial Finance unit provides financing to middle-market companies across a broad range of industries.

With approximately $151.2 billion in assets as of Dec. 31, 2013, Ally operates as a financial holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @Ally.

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SOURCE Ally Financial