On the heels of completing a merger last week, Resolvion has beefed up its ranks with a 30-year auto finance executive, said Chief Executive Michael Levison.
Tim Russi, whose career has spanned institutions including Bank of America and GMAC, has been named to Resolvion’s board, the company announced yesterday. Prior to joining the repossession management firm, Russi led Ally Financial’s auto finance business for six years.
While at Resolvion, Russi will participate in monthly and quarterly business reviews, Levison said, noting that he and Russi will be working together on strategic initiatives relating to product line expansion. Additionally, Resolvion will leverage Russi’s industry relationships to introduce the forwarder to potential business partners.
Atlanta-based Resolvion was formed Nov. 11 through the merger of ALS Resolvion and Del Mar Recovery Solutions. The initial orders of business will be integrating operations onto one technology platform and consolidating a number of overlapping back-end functions, Levison said. The combined entity serves 200 clients, including 40 of the top 50 auto financiers.
“By combining operations, we are able to invest more in performance improvement, and we will be able to take our respective compliance capabilities to new levels while improving operating efficiency,” Levison added. In the past three years, compliance costs for repossession industry players have doubled as regulators have intensified oversight of the industry.