Exeter Finance Corp. aspires to materially grow its portfolio marketshare over the next three to five years, but will likely keep volume steady for the next 18 months as it focuses more on scalability and less on growth, according to Jason Grubb, Exeter’s chief executive.
“My focus right now is to ensure we achieve our targeted return on asset for each loan we fund,” he said. “And obviously a big part of that is making sure we have the right risk-adjusted yield.”
The latter half of this year will be important, Grubb said, because the company’s current projects will provide Exeter the platform from which to grow. “Right now, we are focusing on reducing manual processes, and streamlining wherever possible to ensure a positive experience for everyone,” he said.
Separately, Exeter hired Karthik Chandrasekhar as its vice president and decision science statistician in April. Chandrasekhar previously held positions at Ally Financial Inc. and Santander Consumer USA Inc.
This article was written by Brad Bergan and Natalie Mattila
