Ally Financial Chooses PNC Executive as Next CFO

By Austen HuffordFeaturesDow Jones Newswires

Ally Financial Inc. said Jenn LaClair would join the company later this month as its chief financial officer designate, slated to replace current CFO Chris Halmy next year.

Mr. Halmy plans to retire as CFO in March 2018. He became CFO in 2013.

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Ms. LaClair is joining the company from PNC Financial Services Group Inc. where she was most recently the head of the business bank and was in charge of setting strategy, driving performance and managing risk.

The Detroit-based lender, formerly General Motors Co.'s financing arm and known as GMAC, is one of the country's biggest auto lenders. Ally has been working to expand its reach beyond retail lending into wealth management, mortgages and credit cards, and is working to beef up its online-only bank.

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(END) Dow Jones Newswires

December 12, 2017 09:43 ET (14:43 GMT)