In moves that became effective July 1, Toyota Financial Services announced on Thursday that Mike Groff, president and chief executive officer of TFS USA, was appointed to be CEO of the Toyota Financial Services Americas Region. 

The captive indicated Groff — who first joined Toyota in 1983 — will now oversee TFS operations in the mainland United States, Canada, Puerto Rico, Mexico, Brazil, Venezuela and Argentina. 

Groff has held the role of president of TFS USA since 2013. Last year, the company pointed out Groff initiated plans for TFS USA's headquarters move to Plano, Texas to better align its business with other Toyota North American affiliates.   

In another move, Toyota Financial Services also announced today that Chris Ballinger, the captive’s senior vice president and chief financial officer, will assume additional responsibility in the new global leadership role of chief officer, management innovation. 

In this role, the company indicated Ballinger will be helping to guide global TFS strategy to address future market trends and business model requirements. 

“Mr. Ballinger's appointment to this role reflects recognition of the impact and influence of the North American market for financial services globally, as well as Mr. Ballinger's leadership and innovation,” company officials said.