Exeter Finance Corp. announced late Tuesday that chief executive officer Mark Floyd is stepping down from his role effective Nov. 3.

While continuing to serve on the finance company’s board of directors to ensure a smooth transition, Floyd will turn the CEO post over to financial services industry veteran Thomas Anderson.

“In 2010, I came out of retirement to help build Exeter and lead it through an extraordinary period of growth,” Floyd said. “In just four years, with an incredibly talented team, we have created a leading auto finance organization providing the highest level of service to more than 8,700 dealers and thousands of customers throughout the U.S.

“It is now the right time for the company and me personally to turn over the reins to new leadership as we look to the company’s next phase of growth,” he continued. “Tom is a dynamic and proven leader and I look forward to working with him to effect the smoothest possible transition.”

Exeter highlighted that Anderson is a seasoned executive with nearly three decades of management and financial services industry experience. Anderson has served in a variety of leadership and CEO roles at leading global organizations, including Capital One, Amerifee, Upromise, Sallie Mae, Integrity Interactive, and Education Dynamics. 

Prior to his operating roles, Anderson was a partner at McKinsey & Co. in the financial institutions group.

Exeter director and Blackstone senior managing director Martin Brand insisted this management announcement will position Exeter for the next stage of its growth and development as the company continues to increase its origination volume, enhance its servicing capacity, deepen its partnerships, and maximize profitability.

“On behalf of the entire board, I would like to thank Mark for his extraordinary contributions to Exeter’s success to date. Under his leadership, the company has grown from $64 million in active loans, 97 employees and seven branches to nearly $3 billion in active loans, 1,132 employees and 32 branches — establishing Exeter as the third-largest issuer of subprime retail auto loan ABS.  We look forward to Mark’s continued engagement with the company as a member of the board.”

“We welcome Tom to the Exeter team and look forward to working with him to take Exeter to the next level,” Brand added.

Anderson is accustomed to be in the CEO’s position as he served as chief executive officer and president of three companies:

— EducationDynamics, a marketing services company for higher education

— Integrity Interactive Corp., an ethics and compliance company

— Upromise, a financial services company

Anderson also was a senior vice president at Sallie Mae (after Upromise was acquired by Sallie Mae) where he was responsible for the federal consolidation loan business and the direct to consumer private loan business.

Earlier in his career, Anderson was a senior vice president at Capital One, and he was president and chief executive officer of AmeriFee Financial, a medical finance company owned by Capital One.

“I am excited to join Exeter and look forward to working with the company’s first-rate executive team as we look to build on the company’s historically strong performance,” Anderson said. “I am especially focused on developing deeper value-added partnerships with our loyal customers and dealers.”