Ally names Russell Hutchinson as chief financial officer

Rhea-AI Summary

Ally Financial Inc. (NYSE: ALLY) announced the appointment of Russell Hutchinson as its new Chief Financial Officer effective July 3, 2023. Hutchinson joins from Goldman Sachs, where he served as Chief Operating Officer for global mergers and acquisitions. His extensive background includes over 20 years in Goldman’s Investment Banking Division. Bradley Brown, the interim CFO since October 2022, will return to his role as Corporate Treasurer. Hutchinson's familiarity with Ally's culture and key stakeholders is seen as beneficial for the company's future growth.

Positive

• Russell Hutchinson brings extensive experience from Goldman Sachs, enhancing Ally's leadership team.
• Strong relationships with key stakeholders, expected to drive future business growth.

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• None.

CHARLOTTE, N.C., March 24, 2023 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) today announced Russell (Russ) Hutchinson will join the company as its chief financial officer, effective July 3, 2023. He will report to Ally CEO Jeffrey Brown and be based in Charlotte, N.C.

Hutchinson brings extensive experience in the financial-services industry, with a long, successful track record of execution and results. He most recently served as chief operating officer for global mergers and acquisitions at Goldman Sachs Group Inc., after holding the position of chief strategy officer, where he oversaw mergers and acquisitions (M&A), strategy and innovation. Earlier, he spent two decades working in Goldman's Investment Banking Division, advising clients in the specialty finance sector – including Ally. 

"I have known Russ since my arrival to our company in 2009, and he has been one of my most reliable and trusted outside advisers. He was instrumental in helping us to evolve into the publicly traded and strong company we are today," said Brown. "Russ is well-known for being a collaborative partner who gets results, and his long-standing appreciation and respect for our culture at Ally – as well as existing relationships with our key stakeholders and our board of directors – make me confident he will be an outstanding addition to our company and our leadership team."

Prior to joining Goldman Sachs, Hutchinson began his career as an associate consultant at the Boston Consulting Group in its Toronto office. He is a member of the Boards of Trustees of The Studio Museum in Harlem and Hospital for Special Surgery. He is also a member of the Council on Chicago Booth, which advises leadership at the University of Chicago Booth School of Business.

Hutchinson was a Canada Scholar and earned a Bachelor of Science in Engineering Physics from Queen's University in Canada and an MBA from the University of Chicago Booth School of Business.

Bradley Brown, who has served as interim CFO since October 2022, will return to his full-time role as corporate treasurer once Hutchinson begins in July.

"I want to thank Brad, who went above and beyond to support our company and finance team during the past several months, while continuing to deliver for our shareholders," said Brown. "We have a deep bench of seasoned, talented leaders in our CFO group, and I know together with Russ, they will continue to build on our company's momentum and live up to our Ally promise."

About Ally Financial

Ally Financial Inc. (NYSE: ALLY) is a financial services company with the nation's largest all-digital bank and an industry-leading auto financing business, driven by a mission to "Do It Right" and be a relentless ally for customers and communities. The company serves more than 11 million customers through a full range of online banking services (including deposits, mortgage, point-of-sale personal lending, and credit card products) and securities brokerage and investment advisory services. The company also includes a robust corporate finance business that offers capital for equity sponsors and middle-market companies, as well as auto financing and insurance offerings through more than 23,000 dealers nationwide. For more information, please visit www.ally.com and follow @allyfinancial.

For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.

Contacts:

Sean Leary
Ally Investor Relations
704-444-4830
sean.leary@ally.com

Peter Gilchrist
Ally Communications (Media)
704-644-6299
peter.gilchrist@ally.com

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SOURCE Ally Financial

FAQ

Who is the new CFO of Ally Financial as of July 2023?

Russell Hutchinson has been named the new CFO of Ally Financial, effective July 3, 2023.

What was Russell Hutchinson's previous position before joining Ally Financial?

Before joining Ally, Russell Hutchinson served as Chief Operating Officer for global mergers and acquisitions at Goldman Sachs.

Who will return to the role of Corporate Treasurer at Ally Financial?

Bradley Brown, the interim CFO, will return to his full-time role as Corporate Treasurer.

What experience does Russell Hutchinson have in the financial services industry?

Hutchinson has over 20 years of experience in Goldman Sachs' Investment Banking Division, advising clients in the specialty finance sector.

When did the announcement about the new CFO occur?

The announcement regarding Russell Hutchinson's appointment as CFO was made on March 24, 2023.