Since 2019, Auto Finance News each year selects an auto finance executive to profile in the December issue of its magazine for notable contributions to the industry during the calendar year. We also highlight several Executives to Watch for the year ahead.
The Auto Finance Executive of the Year is chosen based on nominations by members of the industry and the senior editorial team at Auto Finance News. Executives are considered based on experience, leadership, vision and ability to shake up the industry with an innovative, forward-thinking approach to auto finance.
Past award-winners include:
Fabien Thierry has since mid-2019 been tasked with creating the bank’s consumer- and small business-facing auto credit products and spearheading electric vehicle initiatives. Under Thierry’s leadership in 2022, Bank of America secured a private-label financing deal with Lucid Motors and the bank’s auto portfolio grew 31.3% to $50.7 billion since hitting a three-year low of $38.6 billion at the end of 2020, when COVID lockdowns muted vehicle sales across the country.
In addition, Jeff Butler, president of AutoNation Finance, and Jim Vagim, chief executive of United Auto Credit Corp., were selected as the 2023 executives to watch.
Since returning to Ford Motor Credit as CEO in late 2019, Marion Harris has led the captive with a customer-first mentality through multiple record-breaking quarters despite market volatility spurred by the pandemic. In fact, Ford Credit posted more than $1 billion in earnings before interest in taxes in three of the last five quarterly reporting periods leading up to the end of 2021.
In addition, Amira Aly, director of financial services at Lucid Motors; Tommy Moore Jr., chief executive at Stellantis Financial Services; and Tanya Sanders, head of auto at Wells Fargo, were selected as executives to watch in 2022.
Through Ravi Raghu’s leadership in 2020, Capital One Auto Finance logged strong performance in the first three quarters of the year despite the pandemic ravaging the industry earlier in the year. Capital One Auto Finance’s originations continued climbing on a YoY basis, even as the rest of the industry largely saw portfolio declines: Originations rose 23% to $7.6 billion in the first quarter, 13% to $8.3 billion in the second, and 10% to $9 billion in the third, landing the financier with a $65.4 billion portfolio. In October 2021 he became head of software at Capital One, and in July 2022 was promoted to president of Capital One software, international, business cards and payments.
In addition, Dan Berce, chief executive at GM Financial; Marion Harris, president and chief executive at Ford Motor Credit, and Marc Womack, former chief executive at TD Auto Finance, were selected as executives to watch in 2021.
Doug Timmerman, Ally Financial’s president of auto finance, was selected as the inaugural Auto Finance Executive of the Year. Timmerman first joined Ally — then General Motors Acceptance Co. — in 1986 and in 2019 was at the helm of an $80 billion auto portfolio. He was promoted to president of dealer financial services at the bank in summer 2021.
Under Timmerman’s leadership in 2019, Ally broke a company record in the second quarter when used-car originations hit $5.24 billion. Overall originations continue to climb as well, increasing 14% year over year to $9.3 billion in the third quarter.
In addition, Westlake Financial Group President Ian Anderson and former SunTrust Bank EVP and Head of National Indirect Auto Lending Chuck Jones were selected as executives to watch in 2020. Jones retired in Feb. 2023 following the completed merger of SunTrust Bank and BB&T into Truist.