August 28, 2014 5:22 AM ET

Consumer Finance

Company Overview of Ally Financial Inc.

Company Overview

Ally Financial Inc., an automotive financial services company, provides an array of financial products and services to automotive dealers and their customers in the United States. The company offers various automotive finance services, such as new and used vehicle inventory financing; inventory insurance; term loans, including real estate and working capital loans; and vehicle remarketing services to dealers, as well as service contracts and guaranteed automobile protection (GAP) products. It also provides retail automotive financing for new and used vehicles, and leasing for new vehicles; consumer financial and insurance products, such as vehicle service contracts, maintenance coverage, and...

200 Renaissance Center

PO Box 200

Detroit, MI 48265

United States

Founded in 1919

7,100 Employees

Phone:

866-710-4623

Key Executives for Ally Financial Inc.

Chief Executive Officer and Director
Age: 67
President and Head of Global Automotive Services Business
Age: 59
Total Annual Compensation: $600.0K
Chief Executive Officer of ResCap
Age: 52
Total Annual Compensation: $6.2M
Chief Executive Officer of Dealer Financial Services Business and President of Dealer Financial Services Business
Age: 41
Total Annual Compensation: $600.0K
Chairman of Ally Bank
Age: 55
Total Annual Compensation: $600.0K
Compensation as of Fiscal Year 2013.

Ally Financial Inc. Key Developments

Treasury Department To Dispose Stake In Ally Financial

The US Treasury Department said it plans to sell its remaining stake in Ally Financial, Inc. (NYSE:ALLY). A Treasury statement said the government intends to "exit" its remaining stake of 75.1 million shares "prudently balancing speed with maximizing returns." It did not offer a calendar-specific timeline.

Ally Financial Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2014

Ally Financial Inc. reported earnings results for the second quarter ended June 30, 2014. The company reported net income of $323 million, or $0.54 per diluted common share, for the second quarter of 2014 compared to net income of $227 million, or $0.33 per diluted common share, in the prior quarter, and a net loss of $927 million, or a loss of $2.73 per diluted common share, for the second quarter of 2013. The company reported core pre-tax income of $400 million in the second quarter of 2014, compared to core pre-tax income of $336 million in the prior quarter and $201 million in the comparable prior year period. Core pre-tax income, excluding repositioning items, was $417 million for the second quarter of 2014, an increase of $205 million compared to same period last year. Adjusted earnings per diluted common share for the quarter were $0.42, compared to $0.34 for the previous quarter and a loss of $0.13 for the comparable prior year period. Results for the quarter were primarily driven by strong performance from the auto finance franchise.

Ally Financial Inc. Appoints John J. Stack as Directors

Ally Financial Inc. at its annual meeting of stockholders held on July 17, 2014, approved the appointment of John J. Stack as Directors.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 12, 2013
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