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July 30, 2015 1:35 AM ET

Consumer Finance

Company Overview of Ally Financial Inc.

Company Overview

Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, including a range of financial services and insurance products to automotive dealers and retail customers. The company also provides 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, as well as vehicle service contracts (VCSs) and guaranteed automobile protection (GAP) products. In addition, it offers retail automotive financing for new and used vehicles, and leasing for new vehic...

200 Renaissance Center

PO Box 200

Detroit, MI 48265

United States

Founded in 1919

6,900 Employees



Key Executives for Ally Financial Inc.

Chief Executive Officer and Director
Age: 54
Total Annual Compensation: $600.0K
Chief Financial Officer
Age: 47
Total Annual Compensation: $500.0K
Chairman of Ally Bank, Chief Executive Officer of Ally Bank and President of Ally Bank
Age: 56
Total Annual Compensation: $600.0K
Group Vice President and General Counsel
Age: 62
Total Annual Compensation: $500.0K
Age: 68
Compensation as of Fiscal Year 2014.

Ally Financial Inc. Key Developments

Ally Financial Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2015

Ally Financial Inc. reported earnings results for the second quarter ended June 30, 2015. For the quarter, the company reported net income of $182 million, which included a $155 million pre-tax charge for the extinguishment of legacy, high-cost debt. This compares to net income of $576 million in the prior quarter and $323 million for the second quarter of 2014. A generally accepted accounting principles (GAAP) loss of $2.22 per common share in the second quarter of 2015 was primarily driven by the redemption of $1.3 billion of Series G preferred securities during the quarter. The company reported core pre-tax income of $435 million, excluding repositioning items, in the second quarter of 2015, compared to $490 million in the prior quarter and $417 million in the comparable prior year period. Adjusted earnings per diluted common share for the quarter were $0.46, compared to $0.52 in the previous quarter and $0.42 in the prior year period. Driving results this quarter was improved net financing revenue, which totaled $927 million in the second quarter of 2015, up from $912 million in the second quarter of 2014, led by strong retail auto loan growth and lower cost of funds, which more than offset a decline in net lease revenue.

Ally Financial Inc. Declares Dividends on Preferred Stock, Payable on August 17, 2015

Ally Financial Inc. has declared quarterly dividend payments for certain outstanding preferred stock. Each of these dividends was declared by the board of directors on July 22, 2015, and are payable on Aug. 17, 2015. A quarterly dividend payment was declared on Ally's Fixed Rate Cumulative Perpetual Preferred Stock, Series G, of approximately $23 million, or $17.89 per share, and is payable to shareholders of record as of Aug. 1, 2015. Additionally, a dividend payment was declared on Ally's Fixed Rate/Floating Rate Perpetual Preferred Stock, Series A, of approximately $14.8 million, or $0.53 per share, and is payable to shareholders of record as of Aug. 1, 2015.

Ally Financial Inc. Appoints Maureen Breakiron-Evans and Michael Steib to Board of Directors

Ally Financial Inc. announced that Maureen Breakiron-Evans and Michael Steib have been appointed to the board of directors, effective July 22, 2015. Breakiron-Evans will also serve on the board's audit committee.

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