Ally Financial names Michael Rhodes as CEO
With more than two decades of experience in consumer banking, Rhodes poised to lead Ally into the next stage of its evolution
"I have long admired Ally's transformational approach to digital banking and its leading position in automotive finance. The bank has successfully harnessed the power of technology to create financial solutions for its customers and communities consistent with its 'Do It Right' mantra. I am so pleased the Board has put its trust in me to continue advancing Ally's strategy alongside the strong leadership team," said
Rhodes brings to Ally over 25 years of experience across retail and consumer banking and has a track record of delivering transformative digital, data, and technology strategies.
"After an exhaustive search process, the Board has chosen Michael to lead Ally into the next stage of its evolution. Our trust is grounded in his versatile consumer banking experience, his focus on using data and insights to drive decision-making, and his commitment to creating long-term value for our stockholders," said
Rhodes most recently served as CEO of Discover Financial Services and was a member of the company's board of directors. He additionally held the role of President of
Prior to Discover, Rhodes spent over 12 years at TD Bank, most recently as Group Head, Canadian Personal Banking, where he oversaw the division dedicated to retail products and serving customers through mobile, online, telephone, and a branch network over one thousand strong. During his tenure at TD Bank, Rhodes also led North American Credit Card and Merchant Services and served as Head of Innovation, Technology, and Shared Services. In this role, Rhodes strengthened operational resilience, security, and efficiency while improving the bank's capability to support emerging technologies, such as artificial intelligence and cloud migration. He has also held senior positions at Bank of America and
Rhodes holds a master's degree in business administration from the
Rhodes replaces
About
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Contacts:
Ally Investor Relations
704-444-4830
sean.leary@ally.com
980-270-4244
jackie.hartzell@ally.com
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