Chase Auto Finance has new CEO
 | Duckett, 39, was national retail sales executive for mortgage banking. |
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JPMorgan Chase & Co. named Thasunda Brown Duckett CEO of Chase Auto Finance, one of the nation's largest auto lenders.
Marc Sheinbaum, 55, had been CEO of Chase Auto Finance since 2007. He is leaving the company after asking to pursue other opportunities, the bank said on Monday. He will stay through March.
Duckett, 39, was national retail sales executive for mortgage banking. Like Sheinbaum, she will oversee student lending in addition to Chase Auto Finance.
Duckett, who goes by the nickname T, told Automotive News in a brief phone interview on Monday that she's worked mostly in mortgage lending since joining Chase in 2004, so she hasn't had much exposure to the auto lending segment.
"I do feel terrific about this," she said. "Clearly, there's a lot of auto business expertise within our franchise."
Chase Auto Finance is a perennial auto lending heavyweight. It's the preferred lender in the United States for the Jaguar, Land Rover, Mazda and Subaru brands.
Chase was the No. 4 auto lender in overall volume in the fourth quarter of 2012, according to Experian Automotive.
In 2009, Chase was No. 1 nationwide in auto loan originations. At the time, General Motors and Chrysler Group were going through bankruptcy and restructuring, and their preferred lenders, GMAC and Chrysler Financial, morphed too. Chrysler Financial is now TD Auto Finance.
Ally Financial, the former GMAC, emerged as the preferred lender for both GM and Chrysler. It took the No. 1 spot in new-vehicle financing in 2010 and led in new- and used-vehicle financing in 2011 and 2012.
You can reach Jim Henry at autonews@crain.com.
