Open Lending promoted two of its executives this week who have combined to serve the company for nearly 20 years.
The provider of analytics, risk-based pricing, risk modeling and automated decision technology for credit unions and other finance companies, announced the promotion of two of its sales executives: Matt Roe and Tom Rice.
Roe was elevated to chief revenue officer. He has been with Open Lending for 12 years, most recently as senior vice president of sales. In his new role, Roe will oversee sales, account management and marketing to ensure alignment across all departments.
Roe already works cross-functionally with marketing, implementation, operations, finance and IT systems within the organization to collaborate with sales leaders and meet target growth. The company highlighted his extensive experience as both a national account manager and marketing manager within the company provides him with the skills and leadership abilities to succeed in his new role.
Rice, a consistent leader on the Open Lending sales team since 2013, will assume the senior vice president of sales position and lead the sales team in the Western region. He previously served as regional vice president, in which he provided business development and strategy support for clients and prospects.
Prior to joining Open Lending, Rice worked for CUNA Mutual Group for more than 15 years in various capacities and as regional vice president and marketing manager for Bank of America Housing Service.
“Matt and Tom are both excellent leaders and human beings,” Open Lending chief executive officer John Flynn said in a news release. “I’m very proud of the entire team we’re building here, and these two exemplify the excellence for which Open Lending strives.”
Open Lending’s flagship product is Lenders Protection, which can provide default insurance so credit unions and finance companies can feel greater confidence and security with originations to consumers with lower credit scores.
F&I product provider RoadVantage hired a new chief financial officer this week.
Bringing more than 25 years of senior finance and operational experience to RoadVantage is its new CFO Scott Wolfe, who the company believes also will offer “fresh perspective on managing our continued rapid growth.”
Wolfe possesses experience in the management and expansion of small, medium and large organizations. He acquired a background in banking at JPMorgan Chase and led a significant international expansion via acquisition as the global chief operating officer of Fitch Worldwide. Wolfe also has served in multiple executive capacities ranging from CFO as well as chief operating officer and chief executive officer.
RoadVantage emphasized that Wolfe’s experience managing the process of identifying, prospecting and developing mutually rewarding business relationships will prove vital to the success of the company has it continues to expand.
RoadVantage chief executive officer Garret Lacour also pointed to Wolfe’s background in financial systems and operations as being instrumental in supporting a solid fiscal foundation to support projected growth.
“We couldn’t be more excited to have Scott Wolfe join our team as CFO,” Lacour said in a news release. “Our company is leading the market in product innovations and setting new standards with the highest levels of service to agents, dealers, and customers. Winning top honors with Diamond Dealers’ Choice Awards in 2017, 2018, and 2019 are proof of our success and the validity of our mission statement, to ‘Deliver an Exceptional Customer Experience.’
“We’re honored that Scott has agreed to lend his knowledge and creativity to help ‘supercharge’ our dynamic growth,” Lacour went on to say.
The rapid growth and the great potential of RoadVantage are the primary factors that attracted Wolfe to the company.
“I am absolutely thrilled to join the RoadVantage team,” he said about the new position. “As an executive member of many businesses, I’ve learned to quickly recognize a well-run organization. The team at RoadVantage gives me great confidence that the company can and will take over a large share of the market in a short period of time.
Their unerring focus on creating an exceptional experience for all stakeholders is bearing the fruit of growth at a breakneck pace. I look forward to lending my experience to the effort,” Wolfe added.
Automotive Intelligence Council member MBSi Corp. enhanced its leadership team on Monday by bringing on a former executive at Primeritus Financial Services and Manheim.
The provider of repossession assignment software and vendor compliance monitoring named Phil Hanks as senior vice president of sales and client services. The company highlighted that Hanks will align his industry experience with MBSi’s software-as-a-service platform to amplify client services across the auto finance industry in the United States.
“Phil brings a wealth of industry experience and relationships to the MBSi team as we put the finishing touches on our new case management and compliance management systems that will be in market soon,” MBSi president Cort DeHart said in a news release.
“The more time we spend upfront learning about a client’s challenges and their goals, the better systems and service we will develop. I have no doubt Phil will help us accomplish this goal,” DeHart continued.
Within MBSi, Hanks will primarily develop and build new relationships to help MBSi’s finance company, forwarder and agency clients reach operating excellence with the MBSi’s software solutions.
“It’s exciting to join a company with such an opportunity to grow in the market,” Hanks said. “The need for a single software ecosystem to manage repossession cases, map agents and monitor compliance exists for any entity managing repossession orders in the auto-finance industry.
“I share the vendor perspective and look forward to help deliver solutions that bring more opportunities back to agents with increased visibility to financial institutions,” he went on to say.
In 2013, Hanks founded Connect 1 Recovery, which performs asset recoveries in four states. Prior to Connect 1 Recovery, he was a founding partner, president and chief operating officer of Primeritus, an integrated forwarding partner of MBSi. Hanks also has held multiple senior roles at Manheim.
Again this year, MBSi will be a part of Repo Con, which is the repossession and recovery portion of Used Car Week. This year’s industry leading conferences begin on Nov. 11 at the Red Rock Resort in Las Vegas.
Early bird discounts are available until Oct. 1. Complete agenda and registration details can be found at www.usedcarweek.biz.
Hudson Cook welcomed its newest partner this week.
The firm announced that attorney Mark Rooney has joined Hudson Cook as a partner in its Washington, D.C. office. His practice focuses on the defense of consumer litigation under the Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), Fair Credit Reporting Act (FCRA) and other state and federal consumer protection laws.
He founded The Rooney Firm and has represented clients in litigation and defended clients against government enforcement actions and investigations for more than 10 years at two prominent consumer financial services practices in Washington, D.C.
“Mark has a wealth of experience in the defense of both civil litigation matters as well as government enforcement actions against some of the most prominent companies in the financial services space,” said Lucy Morris, chair of Hudson Cook’s government investigations, examinations and enforcement practice. “His work as co-chair of the American Bar Association’s subcommittees on FDCPA and TCPA litigation exemplifies his leadership and depth of knowledge in consumer protection regulation.”
Rooney joins the Hudson Cook government investigations, examinations and enforcement practice in providing litigation support to consumer financial services companies and others facing government scrutiny or private consumer litigation. The firm’s attorneys in this practice area have decades of experience as private practitioners, in-house counsel, and counsel for federal agencies, including the Consumer Financial Protection Bureau, Federal Trade Commission and Office of the Comptroller of the Currency.
Rooney can be reached in Hudson Cook’s Washington, D.C. office at (202) 715-2015 or by email at [email protected].
As AUL Corp. collected a regional accolade for the sixth consecutive year based on its workplace, Axiom announced the newest member of its executive team.
Susan Johnson recently joined Axiom in the role of executive vice president with the responsibility of leading full-cycle product development and administration initiatives for current and future products.
As a long-time F&I industry leader, Axiom highlighted that Johnson arrives with an expert-level skill set in product development, compliance, sales and risk management. As executive vice president, she will drive new product and sales opportunities from within the talented group of Axiom employees representing product development, administration, sales support and sales departments.
“Susan’s knowledge of product and compliance in the industry is unrivaled. She has perfected her craft with a balance of expertise in both innovative product execution and compliant, tangible product offerings,” Axiom chief executive officer Michael Reth said in a news release.
“Susan and I have worked alongside each other in previous roles and I know her talents will translate well to the Axiom environment,” Reth continued. "Her passion and commitment to this industry are remarkable and we are thrilled to have her part of our executive management team.”
Reflecting on taking this executive role, Johnson added, “I am honored to be a part of such an innovative group of people. The atmosphere is very exciting, and I am so glad to be a part of Axiom and the future of this industry.
“Great things are happening here,” she went on to say.
Workplace honor for AUL
Great things also appear to be happening at AUL Corp.
The full-service F&I provider has been honored by the North Bay Business Journal’s Best Places to Work competition for the sixth consecutive year.
The competition recognizes those Northern San Francisco Bay Area companies that excel in quality, professionalism, respect, fairness, pride and camaraderie, as voted on directly by their employees.
This year’s winners were selected from more than 100 participating companies and 8,000 anonymous employee surveys. The surveys also underwent a comprehensive review by the business journal’s editorial staff to eliminate any duplicates or fraudulent entries, ensuring a genuine and equitable result.
“Since AUL’s founding in 1990, our people have been our greatest focus and most valuable asset,” AUL president and CEO Jimmy Atkinson said in a news release. “Their dedication to working hard for our clients and each other has been the fuel for our amazing growth from specialist VSC provider, into a full-service F&I leader. To once again be honored by them strengthens our resolve to stay true to our mission and to our community.”
This year’s competition was co-presented by the Nelson Family of Companies, Exchange Bank, Kaiser Permanente and the Trope Group.
Founded in 1987, the Business Journal’s coverage has expanded from Santa Rosa to the rest of the North Bay area, covering Sonoma, Napa, Marin, Solano, Mendocino and Lake Counties in the San Francisco Bay Area.
AUL and the other winners will be honored at the annual awards gala on Sept. 26 at the Hyatt Regency Hotel in Santa Rosa, Calif.
A former Autotrader executive now has a leadership role in the F&I space.
Automotive industry veteran Matt McKenna recently joined APCO Holdings, home of the EasyCare and GWC Warranty brands, as senior vice president overseeing the GWC Warranty business unit and the APCO Holdings marketing efforts.
McKenna spent 15 years with Autotrader, helping to cultivate more than $1 billion in annual revenue for the Cox Automotive division.
Prior to joining Autotrader, McKenna served in leadership roles with major automotive marketing agencies Campbell-Ewald and J. Walter Thompson, focused on the Chevrolet and Ford brands respectively.
“Matt brings with him a track record of success as a leader and strategist, and as our company grows, so does our need for executives of his caliber,” said Finbarr O’Neill, chairman and chief executive officer of APCO Holdings. “We are extremely happy to have him onboard at this critical time leading GWC Warranty and our marketing efforts for APCO Holdings.”
Citing a Federal Reserve study that found 4 in 10 Americans would struggle to cover an unexpected vehicle repair expense of as little as $400, McKenna said he recognized the opportunity to join a company dedicated to helping consumers mitigate the financial risk associated with vehicle ownership.
Additionally, the culture within APCO Holdings focused on helping dealers and agents succeed with industry-leading products, training, claims management and reinsurance programs in the F&I space led McKenna to join the organization.
“I’m excited to help grow the APCO business. All I had heard about APCO, EasyCare and GWC has proven to be true. The people here care about each other and work together to deliver value to our clients, our dealers, and the ultimate end user: the car owners.” McKenna said.
“Well before joining the company, I was a user of APCO product offerings — the value just made sense,” he added.
AUL Corp. recently solidified its top-tier executive team in response to the firm’s rapid growth and expansion into a full-service F&I provider.
AUL president and chief executive officer Jimmy Atkinson announced a pair of promotions, elevating Jason Garner to be senior vice president of strategic product development and Paul McCarthy to senior VP of agency and dealer sales.
The company said Garner will now provide leadership for enhancing the firm’s offerings, including new products, participation programs and key initiatives. AUL highlighted McCarthy’s promotion is testament his demonstrated expertise and leadership as the company’s vice president of national sales, a position held since January.
“We believe that these additions to top management strengthen AUL significantly by leveraging the talents of both Jason and Paul to maximize our growth strategy,” Atkinson said.
“Jason’s vast industry knowledge will be key in anticipating changes in the market and addressing them proactively,” Atkinson continued. “From the advancement in technology to continued expansion as a full F&I product provider, he will be instrumental in identifying opportunities for AUL to continue driving the industry forward.”
“Since joining us in January, Paul has had a substantial impact on our sales growth and with his two decades of dealership management experience, he brings a wealth of knowledge and experience to his national leadership role,” Atkinson went on to say. “As SVP of agency and dealer sales, Paul is ideally positioned to grow our two largest customer bases.”
A recognized name in the auto-finance space now is leading Flagship Credit Acceptance, which is setting its sights on continued growth.
The finance company announced this week that Bob Hurzeler joined Flagship as its chief executive officer and as a member of its board of directors.
According to a news release, Hurzeler began in his official capacity as CEO on June 3. Flagship said Michael Ritter, who has served as CEO since the company’s founding in 1998, is staying with the company as chairman of the board of directors.
Hurzeler is in his third decade in automotive finance, having come directly from OneMain Financial where he served as executive vice president and chief operating Officer, managing the company’s sales and operations, and oversaw approximately 8,500 team members.
Prior to that post, Hurzeler served in a variety of roles at Wells Fargo Auto Finance, including vice president and regional manager, senior vice president of sales and operations and president. During his tenure at Wells Fargo, Hurzeler helped significantly expand its origination volume.
“It is truly an honor to join Flagship’s team,” Hurzeler said. “Flagship has grown with a strong trajectory creating a sustainable $2.9 billion serviced portfolio. This is a testament to the expertise and skill of everyone at the company.
“I’m optimistic that conditions are right for Flagship to add to its history of growth and development. I look forward to helping lead us there,” Hurzeler continued.
Flagship director Andrew Dym noted, “Attracting top-tier talent like Bob is a testament to the quality of the company Michael Ritter and his team have built. I am proud to welcome him and wish him the best in this pivotal role.”
And Flagship president and chief operating officer Jeffrey Haymore added, “Everyone on Flagship’s Executive Team is delighted to welcome Bob to the company.
“Apart from his experience, Bob’s motivation and energy is going to be an excellent fit for this period of growth at Flagship,” Haymore went on to say.
An executive who has been with Consumer Portfolio Services for nearly 18 years is now the subprime auto finance company’s chief operating officer.
According to an announcement sent to SubPrime Auto Finance News on Tuesday, CPS promoted Michael Lavin to be COO of the company that’s been working with franchised and independent dealers nationally since 1991.
“Mike has done a terrific job developing and managing state and federal compliance for CPS, plus he’s taken on the additional role of multiple department oversight for the past few years,” CPS president and chief executive officer Charles Bradley Jr. said.
“With this promotion, Mike can now bring his organizational and development skills to the entire company to help carry out the strategic vision for CPS,” Bradley continued.
“We’re focused on a sound, risk-based growth plan while continuing to improve dealer service, company profitability and overall efficiencies. Plus, CPS is always looking for the next market/business opportunity—Mike will be a big help getting all those goals met,” Bradley went on to say.
According to his professional profile on LinkedIn, Lavin joined CPS in 2001. During that span, he has served as senior vice president and general counsel as well as executive VP and chief legal officer.
Servicing Solutions added an executive to its leadership team that management called, “one of the industry’s most respected rising stars.”
The loan servicing organization specializing in primary and back-up servicing has hired Paul Marquez, an executive with more than 20 years’ experience in the automotive finance industry, as vice president of asset recovery.
Prior to joining Servicing Solutions, Marquez served as director of remarketing and client relations at Auto Financial Group (AFG). In that role, he managed the lease termination processes of a national portfolio in both the United States and Canada, as well as the remarketing processes for clientele that included banks, credit unions, finance companies, skip-tracing companies and loan servicing providers.
“I worked with Paul at the very beginning of his career and since then, I have watched him progress into the accomplished leader he is today,” Servicing Solutions president and chief executive officer Louis Ochoa said in a news release.
“I am excited to welcome him to our leadership team. He is, without a doubt, one of the industry’s most respected rising stars,” Ochoa continued.
Marquez previously held senior positions with companies such as Countrywide Utility Billing Services, AUTOonline, and spent nine years at HSBC Automotive, one of the top five financial firms in the world.
“I have been impressed with the impressive team that Louis has built at Servicing Solutions, and I am thrilled to join them,” Marquez said.
“The company’s commitment to customer service, emerging technologies, analytics and transparency truly sets it apart from other loan servicers, and I am eager to use my experience to bring value to our customers,” he went on to say.
Another member of Servicing Solutions’ management team is set to appear during the Automotive Intelligence Summit later this month.
Sean Bennett, vice president of business technology at Servicing Solutions, will be joined by Dasceq founder and CEO Abhishek Goel for a workshop titled, “The Practical Uses of A.I. in Auto Loan Collections and Servicing.” It’s one of the many sessions on tap during AIS 2019, which runs from July 23-25 in Raleigh, N.C.
The entire agenda is available here, and event registration can be completed here.
