Two big auto lenders have new leaders.
GE Capital named Dan Henson to replace the veteran Sandra Derickson as president and general manager of GE Capital Auto Financial Services, one of the nation's biggest auto lenders outside the captive finance companies.
Separately, KeyCorp appointed Richard Vonk president of Key AutoFinance, a post that had been vacant for a year. Key Auto-Finance, of Cleveland, is one of the bigger U.S. banks in auto lending, managing over $6 billion in loans and leases.
Derickson's announcement in early November that she was leaving came as a surprise. Derickson, 46, joined GE Capital in 1976 and helped build Auto Financial Services, through acquisitions, into a global organization with more than $25 billion in auto loans and leases.
'With our core businesses solidly on track, I decided that I wanted to take some time for my family and for myself,' she said in a written statement.
Henson, 38, joined GE Capital in 1987. He had been vice president and chief quality officer for GE Capital since 1998.
Vonk succeeds Lou Feagles, who left Key AutoFinance in October 1998. Feagles is now president of financial services of J.M. Family Enterprises Inc. in Deerfield Beach, Fla.
GE Capital Auto Financial Services, of Barrington, Ill., is part of GE Capital, a more diversified financial service company with assets of more than $300 billion.