COMPANY

Founded 1919 by General Motors as General Motors Acceptance Corporation (GMAC), later spun off. In 2006, a 51% ownership stake was acquired by a private equity consortium led by Cerberus Capital Management. Heavily involved in the mortgage bubble, and bailed out by more than $17B in federal funds in 2008 and 2009, making the government GMAC's principle owner. Reorganized and renamed its banking unit Ally Bank in 2009, and its investments unit Ally Financial in 2010.

Official Website:
http://www.gmacfs.com/

Industry:
Finance

Ticker:
(private)

Corporate headquarters:
Detroit, MI

Sales:
$21.1B (2007)

Employees:
31,000 (2006)

EXECUTIVES

Name	Occupation	Birth	Death	Known for
Pamela H. Godwin	Business	c. 1949		Former executive, GMAC Insurance
William J. Lovejoy	Business	c. 1941		Former VP at General Motors

CURRENT BOARD MEMBERS OR DIRECTORS

Name	Occupation	Birth	Death	Known for
Walter G. Borst	Business	c. 1963		Treasurer of General Motors
Frank W. Bruno	Business	c. 1965		Cerberus Global Investments
Thomas K. Duggan	Business	c. 1952		Durham Asset Management
Fritz Henderson	Business	29-Nov-1958		CEO of General Motors, 2009-10
Douglas A. Hirsch	Business	c. 1963		Seneca Capital Management
Mark R. LaNeve	Business	c. 1960		VP, General Motors
J. Ezra Merkin	Business	c. 1954		Chairman of GMAC
Mark A. Neporent	Attorney	c. 1957		COO of Cerberus Capital Management
Seth P. Plattus	Attorney	c. 1961		CAO of Cerberus Capital Management
Lenard B. Tessler	Business	c. 1951		Cerberus Capital Managment
Ray G. Young	Business	c. 1962		CFO of General Motors

PAST BOARD MEMBERS OR DIRECTORS

Name	Occupation	Birth	Death	Known for
Robert W. Scully	Business	c. 1950		Morgan Stanley Asset Management

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