It has appointed two managing directors, who will also join its UK Statutory Board. Reflecting the importance of risk and compliance in today’s market, Eileen McMillan is promoted to the new position of managing director, risk and compliance. Eileen has been with GMAC RFC for two years and was previously head of risk management card services at Lloyds TSB.
Replacing Bill Acheson as managing director, finance is Jeff Lundgren. Jeff has been with GMAC RFC in the US for eleven years and will oversee the UK finance, capital markets and treasury operations. Bill Acheson is returning to the US after his two year spell.
Both managing directors will report to Stephen Knight, executive chairman at GMAC-RFC, who commented: "These appointments reflect our continued growth and the importance we attach to risk and compliance matters. Jeff and Eileen will add value to our existing dynamic Board of Directors."
GMAC-RFC has also made four promotions and one appointment to its Partner division to help further strengthen its market position.
Mark Bonshor and Gordon Rae have been promoted to newly-created positions of divisional managers and will be responsible for managing a Northern and Southerly team of business development managers (BDMs). Imelda Harding and Hayley Young are also promoted from regional sales executives to BDMs. Lee Shuell also joins GMAC-RFC as a BDM, having previously worked for Infinity Mortgages. Lee has spent 16 years working for the mortgage industry, including five years at Advantage. These five high profile appointments mark part of a wider expansion of the Partners division, which launched in March last year and now has a team of over 50.
Since its launch, the partner division has experienced strong take-up of its exclusive product range amongst its 76 packager partners. To date, applications on the range have exceeded £3 billion with many partners reporting that their business levels with GMAC-RFC have increased significantly.
Roger Brown, director of packagers for GMAC-RFC, commented: “I am delighted to welcome all five team members to such high profile roles within the team. I look forward to working closely with them and continue to build on the excellent success of our Partners initiative. The Partners proposition is extremely important to GMAC-RFC and it is crucial to attract the best people in the industry to work with us.
“In 2007 we aim to further increase and enhance our packager service by continuing to innovate and lead the way in the market place.”
