Automotive News All Stars
MINORITY BUSINESS: Chris Ballinger, CFO, Toyota Financial Services
Bond offerings by carmakers' captive finance companies, which raise money for consumer loans and dealer floorplanning, usually are handled by big-name blue chip Wall Street investment houses.
This year Toyota became the first automaker to offer a "diversity and inclusion bond," elevating minority-owned investment groups to lead underwriting roles. A minority- and woman-owned law firm was co-counsel on the $350 million offering.
The bond, overseen by Ballinger, 56, is one reason Toyota was the only automaker named in DiversityInc's top 50 companies.
Toyota Financial Services also was honored by leadership development company Linkage's Women in Leadership Institute for advancing the careers of women.