Ex-U.S. Treasury Official Pendo Is Named to Ally Financial Board

Mathew Pendo, a former chief investment officer of the U.S. Treasury Department, has joined the board at Ally Financial Inc. (ALLY), the auto lender majority-owned by taxpayers.

The Treasury, which owns 74 percent of the Detroit-based auto lender, appointed Pendo to the board, the company said today in a regulatory filing. Pendo replaces Kim Fennebresque as one of the government-appointed directors. Fennebresque remains as a board-appointed director, replacing John Stack, who stepped down to focus on Ally Bank, the firm’s online lender, according to the filing.

To contact the reporter on this story: Dakin Campbell in San Francisco at dcampbell27@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.