Exeter Finance Corp., a small niche player in subprime finance with a big vision, has hired Mark Floyd, a veteran in specialty finance, as its CEO.
Floyd most recently was co-COO of AmeriCredit Corp., a leading independent finance company supplying auto loans to consumers with poor credit. Before his 12-year stint with AmeriCredit he had an extensive banking background.
Now the 57-year-old Floyd intends to help Exeter's 75 employees expand within the company's niche market: car buyers with credit ratings just below that of the typical AmeriCredit customer. AmeriCredit's customers have credit scores of 580 to 600, and about a third are homeowners.