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.
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