TORRANCE, Calif., July 9, 2015 /PRNewswire/ -- Toyota Financial
Services Corporation (TFSC) announced today that Mike Groff, President and CEO of TFS
USA, is appointed to CEO of the
Toyota Financial Services Americas Region. Mr. Groff will now
oversee TFS operations in the mainland United States, Canada, Puerto
Rico, Mexico, Brazil, Venezuela, and Argentina. Groff has held
the role of President of TFS USA
since 2013. TFS has been the #1 volume auto finance company
for new retail and lease contracts in the
United States for the past three years. TFS priorities
include maintaining strong relationships with Toyota, Lexus and
Scion dealers and their retail customers. TFS is dedicated to
corporate social responsibility, demonstrated by its strong
regulatory and compliance culture, and its work promoting financial
education in communities. The company is recognized for
innovation including an industry-leading eContracting solution and
robust business intelligence analytics. In 2014, Mr. Groff
initiated plans for TFS USA's
headquarters move to Plano, Texas
to better align its business with other Toyota North American
affiliates.
![Toyota Financial Services Toyota Financial Services](https://photos.prnewswire.com/prnvar/20150709/234637LOGO)
TFSC also announced today that Chris
Ballinger, TFS USA Senior
Vice President and Chief Financial Officer, will assume additional
responsibility in the new global leadership role of Chief Officer,
Management Innovation. In this role, Mr. Ballinger will be
helping to guide global TFS strategy to address future market
trends and business model requirements. Mr. Ballinger's
appointment to this role reflects recognition of the impact and
influence of the North American market for financial services
globally, as well as Mr. Ballinger's leadership and innovation.
These changes are effective July
1, 2015.
Biographies of key executives follow.
Executive Biographies
Mike
Groff
Mike Groff is
President and Chief Executive Officer of Toyota Financial Services
(TFS), overseeing all operational and financial activities in the
Americas Region. Groff joined Toyota in 1983, and has held
field positions including TFS Branch Manager and Regional Manager,
as well as headquarters positions that include Corporate Marketing
and Leasing Manager, Vice President of Corporate Strategy, Vice
President of Customer Service, and Senior Vice President of Sales,
Product and Marketing. In addition to his TFS
responsibilities, Groff is also a National Trustee for the Boys and
Girls Clubs of America. Groff received a Bachelor of
Arts degree in Business Administration from California State University, Fullerton, and earned
a Master's degree in Business Administration from Chapman University in Orange, California.
Chris Ballinger
Chris Ballinger is Senior Vice
President & Chief Financial Officer for Toyota Financial
Services (TFS). Ballinger joined TFS in September 2003 as Vice President of Treasury,
overseeing the Financial Risk Management, Sales and Trading,
Capital Markets and Cash Management groups. Promoted to Group
Vice President in December 2006, he
also assumed the responsibility for Global Treasury for Toyota
Financial Services Corporation. In 2008, he assumed the
additional responsibilities of Finance and Accounting, taking on
the Chief Financial Officer role as well. Ballinger received
a bachelor's degree in Economics from Amherst
College and a master's degree in Economics from the
University of California, Berkeley.
About Toyota Financial Services
TFS is the finance
and insurance brand for Toyota in the
United States, offering retail auto financing and leasing,
through Toyota Motor Credit Corporation (TMCC) and Toyota Lease
Trust. TFS has a range of products to meet Toyota dealers'
financing needs and also offers extended service contracts through
Toyota Motor Insurance Services (TMIS). Lexus Financial Services is
the brand for financial products for Lexus dealers and customers.
TFS currently employs approximately 3,300 team members nationwide,
and has assets totaling over $100
billion. It is part of a worldwide network of comprehensive
financial services offered by Toyota Financial Services
Corporation, a wholly-owned subsidiary of Toyota Motor
Corporation.
We announce material financial information using the investor
relations section of our website (www.toyotafinancial.com) and SEC
filings. We use these channels, press releases, and social media to
communicate about our company, our services and other issues. While
not all information we post on social media is of a material
nature, some information could be material. Therefore, we encourage
those interested in our company to review our posts on Twitter at
www.twitter.com/toyotafinancial.
TFS is a recipient of the 2014 Civic 50 Award which recognizes
the 50 most community-minded companies in the United States.
Toyota is one of DiversityInc's Top 50 companies for diversity in
2015. For more information about the company's support of
financial literacy, after-school programs, and other community
initiatives, please visit www.tfsinthecommunity.com
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SOURCE Toyota Financial Services