By Lisa Beilfuss
Ally Financial Inc. said Barbara Yastine, the head of its
banking unit, will step down, a move that comes less than two
months after Jeffrey Brown took over as the auto lender's chief
executive.
Ms. Yastine, who served as chief executive, chairman and
president of the banking unit, will remain with the company until
June to assist with the transition. She became CEO of Ally Bank in
May 2012 and had joined the company two years earlier as chief
administrative officer. Ally said a successor would be named in the
near term.
The Detroit-based company, which was formerly known as GMAC,
named Mr. Brown to succeed Michael Carpenter as CEO in early
February. Mr. Carpenter's comments about a decision by former
parent General Motors Co. to shut the company out of a lucrative
leasing business didn't sit well with Ally's board, The Wall Street
Journal reported at the time.
In the wake of his appointment, Mr. Brown outlined a plan to
build up Ally's retail-banking businesses and push further into
other areas of auto financing, including subprime loans.
Ally went public in April, and the Treasury Department shed its
final stake in December.
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