Yamaha Motor Finance Corp. USA will grow its team to more than 130 employees by the end of 2018 to accommodate the captive’s growth and new programs, Powersports Finance has learned.
The team has — and will continue to be led — by newly promoted President Jeff Young, who has been with the company since its founding in 2015. Young was promoted effective Jan. 1, and his former role of chief operating officer will not be filled, as he maintains many of his previous duties.
“The additional responsibilities I will be picking up are not enough to backfill the COO role,” Young told Powersports Finance.
In the company’s first few years, Young has led the growth of the captive launching several key business lines: a nonprime retail installment program, a retail credit card business, and the current transition of the wholesale finance business to an in-house program launching in late 2018.
In September, Young distributed a note to dealers informing of the company’s decision to take its floorplan financing operations in-house. The new wholesale captive will officially launch in December 2018, and Yamaha is already building out its wholesale team.
Yamaha Finance was “a drawing on a whiteboard” three years ago, Young said in a press release. The growing team at the captive “has accomplished an incredible amount in a short period,” Young said, adding that he is “proud to lead” Yamaha Finance into the next phase of growth.
