World Omni Financial Corp., parent of Southeast Toyota Finance and other auto financial services companies, last week named Dan Chait president.
Chait, 44, succeeds Frank Armstrong, 54, who is retiring. Chait was already second-in-command as group vice president of World Omni, a division of JM Family Enterprises Inc. in Deerfield Beach, Fla.
Southeast Toyota Finance is the captive finance company for Southeast Toyota, an independent distributor of Toyota vehicles in Alabama, Florida, Georgia, North Carolina and South Carolina.
Chait (pronounced Chayt) joined World Omni as vice president of asset management in 2002 and was promoted to group vice president in 2007. Before joining World Omni, he held senior level positions with U.S. Airways Inc., AutoNation Inc., UniCapital Corp. and Banc of America Leasing Commercial Markets.
Armstrong joined World Omni in 2001 as vice president of business and product development. After several interim promotions, he was appointed president in 2008.
Along with Southeast Toyota Finance, Chait is responsible for a number of subsidiaries that provide financial services to auto lenders. They are CenterOne Financial Services, which provides third-party servicing; DataScan Technologies, which provides wholesale floorplan accounting and risk management systems; and DataScan Field Services, which provides vehicle inspection and floorplan inventory verification services.