DALLAS, June 19, 2018 (GLOBE NEWSWIRE) -- Tricolor, the nation’s largest used vehicle retailer focusing on the integrated sale and financing of vehicles to Hispanic consumers, today announced the addition of veteran financial services executive Jason Hutton as its Chief Innovation Officer. Hutton will report directly to CEO Daniel Chu, and is responsible for broadening the mission-driven lender’s platform to serve thin and no file Hispanic consumers in additional sectors and through new, innovative products or services.
“While we continue to evolve the next generation of retail auto delivery to our consumer, Jason will be exploring new domains which leverage our current platform,“ said Tricolor CEO Daniel Chu. “His proven energy, insight and entrepreneurial spirit across a diverse range of financial sectors will be the key to advancing our mission-driven approach to lending in new and novel ways.”
Hutton has served in a variety of senior executive roles at a number of leading financial services companies as well as smaller, more agile firms, spanning responsibilities in private equity, structured finance, consumer finance, and M&A. He began his career with GE Capital, earning a Six Sigma certification, followed by investment experience at HBK Capital Management and Fortress Investment Group. He has also held senior management roles at Huron Consulting Group, the IBS Group, LGM Finance, Braviant Holdings, and Cortland Capital Market Services.
“The Tricolor model delivers a powerful industry dynamic - a propriety and proven analytics-driven underwriting model, an innovative integrated sales and lending business model, and a trusted consumer brand,” said Hutton. “I’m eager to explore innovative ways that we can leverage this unique set of resources to expand our affordable lending approach across all of our consumers’ possible financial services needs. The target market is sizable, the business strategy has been validated, and the opportunity to create significant value is enormous.”
Hutton earned his MBA from the NYU Stern School of Business and graduated with honors from the United States Military Academy with a degree in computer science engineering and history.
Founded in 2007, Tricolor is a mission-driven company that sells and finances high quality, certified used motor vehicles through its premium brands, Tricolor Auto Group in Texas and Ganas Auto Group in California. It utilizes advanced data analytics and technology to advance financial inclusion to a highly underserved market and offer responsible, affordable, credit-building auto loans to individuals with no or limited credit history.
Headquartered in Dallas, Tricolor, together with its affiliate, Ganas Auto Group, operate thirty retail dealerships across twelve markets in Texas and California, as well as a shared services center in Guadalajara, Mexico. On a combined basis, Tricolor and Ganas have served more than 44,000 customers and disbursed nearly $800 million in affordable auto loans by using its proprietary model to segment risk.
For more information about Tricolor and Ganas, please visit Tricolor.com or Ganas.com