Financial Services

Financial Services

GMAC Chief Financial Officer To Leave for Private-Equity Firm

By Darryl Isherwood & Darryl R. Isherwood

Published March 09, 2010

| FOXBusiness

GMAC Financial Services Chief Financial Officer Robert Hull plans to leave the company at the end of the month.

Hull, who joined GMAC in 2007, will join Providence Equity Partners as chief financial officer. Hull was a member of GMAC’s executive committee and served briefly on GMAC’s board of directors.

“We are delighted to welcome Rob Hull to Providence,” said Jonathan Nelson, chief executive officer of Providence in a statement. “Rob brings an exceptional track record of serving as CFO at large and complex financial institutions, as well as public and private companies in a variety of industries."

Hull was among dozens of former Bank of America (BAC) executives recruited to the firm by former CEO Alvaro de Molina, who presided over the company for 19 months before he was ousted in November. De Molina's departure sparked fears that many of his hand picked executives would follow.

GMAC is now majority-owned by the U.S. government after it received more than $16 billion in bailout funds.

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