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US: Ally Financial gets new CEO


Ally Financial Inc., the US auto lender that survived through a government-sponsored bankruptcy bailout, has decided to put Jeffrey J. Brown in charge as chief executive officer, with Michael A. Carpenter leaving all his positions. Carpenter, the former CEO is also vacating his board position and Brown, 41, will fill in the role as he works closely with Chairman Franklin “Fritz” ...
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More Ally Financial articles

GM decides to stop using Ally Financial for lending services
Ally Financial Inc has taken a hit these days as the No. 1 US automaker – General Motors – has decided to stop using the financial services provider for its ...
Ally Loss Widens in the Second Quarter
Ally Financial said that its loss in the second quarter widened due to higher provisions for soured vehicle loans and mortgage settlement. Net loss during the second quarter jumped to $927 ...
Ally Plans to Raise $1B to Pass US Stress Tests
Ally Financial might raise around $1 billion in stock to be able to pass the Federal Reserve's annual stress test, according to anonymous sources. The auto-lender majority owned by U.S. taxpayers, ...
ResCap Gets Initial Approval for $2.1B Agreement With Ally Financial
Residential Capital got approval for a $2.1-billion deal with parent Ally Financial, which will help the company come up with a plan to repay creditors. U.S. Bankruptcy Judge Martin Glenn, from ...
Ally Financial Pays ResCap $2.1B to Avoid Lawsuits
Ally Financial will pay $2.1 billion to the ResCap bankruptcy estate to avoid lawsuits. "Putting these issues behind us is in the best interest of our shareholders, employees and customers," Ally ...
GM Rolls Out F&I Products With Vehicle Brand Names
Beginning this month GM will roll out its F&I products, firstly though its dealerships in Ohio and then expanding nationwide by the end of this year. Steve Hill, vice president of ...
Opel Hopes to Boost Sales Through Opel Financial Services
Opel expects to boost sales relying on cheaper leasing deals and loans after it has taken back in-house the German banking license. In April, GM Financial Company launched the new 'Opel ...
Ally Financial Reports $1.1 Billion Net Income for Q1
Ally Financial reported first quarter net income up by almost $800 million to $1.1 billion on one-time gain. Ally Financial announced that its core pre-tax loss reached $6 million during the ...
Ally Financial Sold its Latin America and Europe Operations to GM Financial
Ally Financial announced it has almost completed the sales of its assets in Latin America and Europe to GM Financial for $2.6 billion. "Completion of this transaction marks another step in ...

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