US Bank has hired John Hyatt to lead its indirect lending group, which provides loans and leases to consumers through automobile, marine and recreational vehicle (RV) dealers, the company announced in a press release today.
Hyatt, whose appointment is effective immediately, will report directly to Kent Stone, vice chairman for US Bank consumer banking sales and support, a bank spokeswoman told Auto Finance News.
Hyatt’s new appointment is not a replacement for Tom Wirth, who had run the bank’s auto finance business and still holds the position of senior vice president, the spokeswoman confirmed with AFN. Wirth has been with U.S. Bank since 1999. Presumably, Wirth will now report to Hyatt.
US Bank is the No. 15 auto finance in the nation, with originations in the $9 billion range, according to the Big Wheels Auto Finance Data Report. US Bank has not increased its rank in originations and outstandings in recent years.
Prior to joining US Bank, Hyatt served as president of dealer financial services at Bank of America, a position he held since 2010, and previously held various leadership positions in retail banking and direct lending at BofA, according to the US Bank release.
“We are pleased to have John join our team,” Stone said in the report. “His experience makes him well positioned to build upon our strong indirect lending business and grow it as the economy rebounds and consumers get back into the market for new cars, boats and RVs.”
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