Toyota’s Borst to Deliver 2012 Auto Finance Summit Keynote

We are pleased to announce that George E. Borst, president and chief executive officer of Toyota Financial Services, will deliver the Keynote Address at this year’s Auto Finance Summit.

The Auto Finance Summit is presented by Auto Finance News, AutoFinanceNews.net and Royal Media Group and lead-sponsored by FIS.

Borst will present at 9 a.m. PT on Tuesday, Oct. 23 at the Encore Las Vegas. He will also take questions from the audience during a “fireside chat”-style Q&A session.

The 12th annual Auto Finance Summit will take place Oct. 22-24 in Las Vegas. 

Borst joined Toyota in 1985 and has been a primary driver of Toyota Financial Services’s growth since then. As of last year, the company was closing in on $100 billion of assets under management worldwide. Borst became TFS president and CEO in 2001. 

In 2004, Borst spearheaded the launch of Toyota Financial Savings Bank, which led to a more diverse funding mix, as well as products like the self-issued Lexus Pursuits Visa and the Toyota Rewards Visa.

And when TFS faced that first-ever loss in FY09, Borst created the “Back in Black” campaign to reduce operational expenditures, aligning the organization with the new realities of the business environment following the financial crisis in 2008. Notably, the campaign did not include mass layoffs.

The most recent challenge for Borst was the Great Eastern Japan Earthquake and tsunami that hit Japan on March 11, 2011. Immediately after the quake, TFS formed a rapid-action team under Borst’s direction. Borst’s team recognized that dealers would face a shortage of new vehicles and would need to focus on used sales for several months. Many would also be facing cash shortages. TFS responded by offering used line extensions for wholesale dealers; offered special rates for Toyota/Lexus certified used vehicles; and, for dealers with real estate or construction loans, Borst authorized interest-only payments for 180 days.

For information about the Auto Finance Summit, please visit www.autofinancesummit.com.