Ally Financial has tapped a Goldman Sachs veteran to become the auto lender's new CFO.
Russell Hutchinson, Goldman Sachs' COO of global mergers and acquisitions, will assume the Ally CFO role July 3, the company said Friday.
Hutchinson, 49, started at Goldman Sachs in 2001 and held roles including chief strategy officer and head of mergers and acquisitions for the Americas Financial Institutions Group, according to his LinkedIn profile. He used to advise Ally along with other specialty finance clients during his time in Goldman Sachs' investment banking division.
"I have known Russ since my arrival to our company in 2009 and he has been one of my most reliable and trusted outside advisers. He was instrumental in helping us to evolve into the publicly traded and strong company we are today," Ally CEO said in a statement. "Russ is well-known for being a collaborative partner who gets results, and his long-standing appreciation and respect for our culture at Ally — as well as existing relationships with our key stakeholders and our board of directors — make me confident he will be an outstanding addition to our company and our leadership team."
Hutchinson will replace interim CFO Bradley Brown, who will resume his job as Ally's corporate treasurer. Brown took over after former CFO Jennifer LaClair stepped down in October 2022.
"I want to thank Brad, who went above and beyond to support our company and finance team during the past several months, while continuing to deliver for our shareholders," Jeffrey Brown said in a statement. "We have a deep bench of seasoned, talented leaders in our CFO group, and I know together with Russ, they will continue to build on our company's momentum and live up to our Ally promise."
Before working at Goldman Sachs, Hutchinson served as an associate consultant at the Boston Consulting Group. He has a bachelor of science in engineering physics from Queen's University and an MBA from the University of Chicago. He also serves on the boards of the Studio Musuem in Harlem and Hospital for Special Surgery and sits on the Council of Chicago Booth for the University of Chicago Booth School of Business.