Another executive who spent time at EFG Companies now is a part of the leadership team at AutoPayPlus by US Equity Advantage.
The provider of biweekly payment processing announced through a news release on Monday that Hollis Goode has joined the company as national sales director.
With 20 years of experience in automotive finance and business development, Hollis joins newly appointed chief sales officer John Stephens to lead the company’s sales force for continued record growth.
Goode previously worked alongside Stephens at EFG Companies where his 16-year career most recently included serving as regional vice president where he developed goals, strategic plans and company policies, and assisted in decisions on the direction of multiple companies, including dealer services.
Goode’s career also includes director of finance positions with several dealership groups in Texas.
“Hollis brings to AutoPayPlus a proven talent for building relationships and skill sets with dealers in the field; an ability that will undoubtedly be a huge factor in helping our dealer partners raise their level of performance,” AutoPayPlus chief executive officer Robert Steenbergh said.
“It’s an added bonus that Hollis and John have worked together for more than a decade building a top-notch, well-oiled working relationship to now lead our sales team,” Steenbergh continued.
Goode added, “I was impressed with AutoPayPlus’ operational focus on client support and customer satisfaction, and the opportunity to work with John again was a plus.
“We’re both looking forward to tapping the potential for future growth that awaits our team,” Goode went on to say.
On Monday, StoneEagle announced the promotion of one of its executives to be its new chief operating officer.
Selected for this role for the provider of automotive menu, F&I and service metrics is Damar Christopher, who will work cross-functionally to increase alignment, momentum and stakeholder communication, so that the business consistently delivers on the objectives set by the chief executive officer and executive committee.
In addition to overseeing all administrative and operational functions of the company, StoneEagle highlighted that Christopher will leads support of vision and goals by translating company objectives into “clear, relevant, and effective strategies.”
According to a news release, Christopher will manage operations, product, human resources, finance and legal.
The company added that Christopher will also be responsible for coaching team members throughout the organization empowering them to reach their full potential and will report directly to StoneEagle CEO Cindy Allen.
Christopher’s work at StoneEagle extends over the last year, most recently as vice president of product. In this role, he was instrumental in setting StoneEagle’s product standard dubbed, “keeping promises.”
The company said this singular internal and external benchmark raised StoneEagle’s SCS roadmap accuracy by 60% year-over-year; an achievement made even more impressive when accomplished against the backdrop of a global pandemic, according to the company.
“Looking back over the past 24 months, StoneEagle has grown at a breakneck pace. The scale of talent, team and structure as well as in the number of new clients and product additions has been tremendous,” Allen said in the news release. “If we don’t take time to intentionally work ‘on’ the business, not just ‘in’ the business, we won’t be able to continue to deliver great solutions that make people's lives better.
“Having Damar’s considerable experience in many facets of executive leadership and his talent for maximizing the resources leading our focus on care guarding StoneEagle’s quality and consistent delivery of results, is critical to insuring we maintain the exceptional products and level of service we have always provided as we continue to accelerate our growth,” Allen went on to say.
Prior to StoneEagle, Christopher led global product teams across analytics and managed technology platforms in the travel industry, most notably at Concur, nuTravel and Cirium. In those roles, he created double-digit annual growth, pioneered a global program for product collaboration, built client success teams from the ground up, and executed a 100% corporate solutions success rate for delivery on time and within budget.
In a move that became effective on the first day of 2022, Hudson Cook promoted two of its attorneys to equity partners of the firm that serves dealerships and finance companies.
According to a news release, the firm’s two newest partners are Webb McArthur and Latif Zaman.
McArthur, a resident in the firm’s Washington, D.C. office, advises a range of financial institutions, consumer reporting agencies, technology and information companies, and others on compliance with data use and privacy laws, including the Fair Credit Reporting Act, California Consumer Privacy Act, Colorado Privacy Act, Virginia Consumer Data Protection Act, General Data Protection Regulation, and Gramm-Leach-Bliley Act.
As a member of the firm’s credit reporting, privacy and data security practice group, Hudson Cook highlighted that McArthur works closely with clients to develop data use and privacy compliance strategies, including in connection with product assessments, consumer relations, vendor management, and due diligence matters.
McArthur is an active member of the American Bar Association, Business Law Section, and the International Association of Privacy Professionals. He speaks and writes frequently for financial services industry trade associations and publications.
Rebecca Kuehn, chair of Hudson Cook’s credit reporting, privacy and data security group, credits McArthur’s particular interest in the states’ consumer data privacy laws with the growth of the firm’s data privacy group.
“Webb has been helping clients navigate the increasing patchwork of these state privacy and data protection laws, beginning with California and with the recent addition of Virginia and Colorado,” Kuehn said. “He has been an invaluable resource to our clients and we welcome him to the firm partnership.”
Zaman, resident in the firm’s Hanover, Md., office, works closely with financial services providers at various stages of growth to develop, maintain and expand nationwide consumer and commercial credit and funding programs.
On behalf of investor clients, Hudson Cook said Zaman engages in due diligence of financial service providers, including fintech firms, bank partnership platforms, small business lenders, sales finance companies and legal funding companies. Zaman advises legal funding companies on compliance with state and federal law, including issues related to licensing, documentation and recharacterization.
Zaman is a contributing editor for the American Bar Association’s Business Law Section digital publication, Business Law Today, and is a member of the Alternative Finance Bar Association and the American Bar Association, Business Law Section, formerly serving as a young lawyer liaison with the Consumer Financial Services Committee.
“Latif has been an integral part of our team representing our clients,” said Catherine Brennan, chair of the firm’s fintech group. “In particular, Latif advises clients in legal funding and commercial choice of law lending programs. I look forward to working with Latif to continue to grow our Fintech and Business Funding practices.”
John Stephens is bringing more than 30 years of automotive experience to AutoPayPlus by US Equity Advantage.
The biweekly payment processing provider announced this week that Stephens has joined the company as chief sales officer.
Most recently, Stephens served as executive vice president of dealer services at Texas-based EFG Companies where he oversaw the direct sales and service channels, providing solutions and engagement to optimize profitability for EFG’s dealer partners.
Stephens also spent 16 years with the Mac Haik Auto Group in Houston in positions of increasing responsibility, including F&I director, used-car manager, new-car director and general sales manager.
“While we’ve enjoyed record growth for the past few years, I felt the need to find a true seasoned professional who could take us to an even higher level,” AutoPayPlus chief executive officer Robert Steenbergh said in a news release.
“Not only does John have the pedigree with regard to his abilities and record of success on a national level, but he also embodies the core values of our company and will be a seamless fit into our leadership team and corporate culture,” Steenbergh continued.
Stephens added, “I am thrilled to join the AutoPayPlus team, with its stellar reputation for industry-leading innovations and superior service, and look forward to providing our clients with award-winning F&I programs that will help them succeed in any market environment.”
Car Capital is capping off an active year by bringing on a new chief revenue officer this week.
Looking to establish itself as an up-and-coming auto-finance technology company that strives to get any deal bought no matter the consumer credit background, Car Capital welcomed Cory Cox as its CRO.
A notable leader in growth-oriented sales, marketing and operations, Car Capital highlighted through a news release Cox has extensive experience in the areas of analytics, data, platforms and software start-ups and programs.
The company said his strengths in automotive, SaaS, digital and product management, combined with an enthusiasm to work “in the trenches while in a leadership role,” make Cox an “ideal” fit to help Car Capital further scale its business.
Before joining Car Capital, Cox was served in a variety of roles, including:
—Vice president enterprise sales at GPO, a SaaS platform company,
—Director of eCommerce, customer and employee technology solutions and digital marketing at Rush Enterprises, one of North America’s largest publicly-traded commercial vehicle dealer groups
—Chief operating officer at Gratis Solutions, an automotive software company
Cox also has previously served in various sales and marketing roles at Ford, Nissan and Stellantis.
“I’m thrilled to welcome Cory as our chief revenue officer,” Car Capital co-founder and chief executive officer Justin Tisler said in the news release. “With his impressive background in automotive and software and his proven track record of growing companies while nurturing talent, Cory is an exciting addition to our leadership team.”
After finalizing a funding round in March and a line of credit in April, as well as gaining two veteran advisors in May, the company announced the appointment of a new chief information officer in June.
The company added that Cox will be crucial to the successful growth of Car Capital through his support and promotional endeavors of the company and their proprietary web-based platform, Dealer Electronic Auto Loan System (DEALS). Through DEALS, Car Capital can make instant underwriting decisions available to its dealer partners so any driver regardless of credit history can feel confident in their ability to purchase a vehicle when entering the dealership.
“I’m excited to be back in automotive and am passionate about improving the car-buying experience through innovative software solutions like DEALS. In today’s digital environment, time is precious and everyone wants fast transactions,” Cox said.
“Car Capital delivers on making sales efficient and profitable for our dealer partners and transportation readily accessible for consumers,” he continued. “I look forward to applying systemic thinking to drive significant sales results at Car Capital.”
An executive who was part of a company that Portfolio acquired last year now is in a crucial management position.
Portfolio named Chad Millspaugh as vice president of sales and marketing, effective immediately. The F&I product provider highlighted that Millspaugh’s 20-year automotive industry career began at the retail level and has progressed with training and executive leadership roles, including a four-year tenure at National Automotive Experts/NWAN, the company Portfolio purchased last year.
In his new role, the company said through a news release that Millspaugh is tasked with leading Portfolio’s sales and marketing efforts in the highly competitive and rapidly evolving reinsurance and F&I products segment.
“I look forward to being able to bring all of my experience in field sales, program management and corporate training to this role in order to align our field sales and the departments that assist them,” Millspaugh said in the news release. “I am honored and humbled to be able to contribute to this talented team as we work toward integrating the strengths of our combined organization for rapid growth in the future.”
Millspaugh was general manager of Colorado’s Jim Hudson Chevrolet when he was recruited by JM&A in 2003. He spent nearly eight years in two stints with the company, first as a district manager and later as a sales trainer, and six years as an F&I executive with Zurich. He joined NAE/NWAN as director of training and development in 2017.
“We expected great things of Chad when he first joined NAE/NWAN, and he has risen to every challenge we’ve thrown at him over the past four-plus years,” Portfolio’s chief sales officer David Neuenschwander said. “This is a critical role at a critical time for our company, and I am confident and excited that Chad will be leading us into the future.”
Resolvion began a new month by announcing a variety of high-level executive moves on Monday.
The provider of repossession management, skip-tracing, heavy equipment recovery, remarketing, license plate recognition and specialty recovery said the strategic leadership changes involve:
— Scott Darling, who now is chief executive officer
— Jon Faulkner, who now is chief financial officer
— Mike Levison, who now is vice chairman
Darling now is responsible for overseeing the overall performance, growth and strategic direction of the company. Darling — who is among the 140 executive and experts set to appear during Used Car Week beginning on Nov. 15 in Las Vegas — is based in the Resolvion’s corporate headquarters in Charlotte, N.C.
Prior to his new role, Darling served as chief operating officer for Resolvion. He has more than 20 years of operations leadership experience in consumer finance, including credit and collections roles at Capital One, Wells Fargo, PayPal and Time Warner Cable.
Meanwhile, Resolvion said Faulkner will be responsible for overseeing all financial aspects of the company. He also will lead HR, investor relations, legal and compliance activities.
Faulkner will join Resolvion in early December, and also will be based in the company’s Charlotte corporate headquarters.
Prior to joining Resolvion, Faulkner successfully served in senior finance, operations and strategy roles during the past 25 years, including The Dixie Group, a $400 million floorcovering company.
Furthermore, Resolvion said Levison will be transitioning to vice chairman after 10 years as CEO. Resolvion highlighted Levison has dedicated his career to the financial services and banking industries and looks forward to advising Resolvion in this role.
“I’m honored to succeed Mike Levison as our company CEO, and am excited about the opportunities in front of us,” Darling said in a news release. “I am especially excited as part of my promotion to be welcoming Jon Faulkner onboard as our new CFO.
“Along with other key members of our executive team, these moves will help ensure sustained growth, profitability and client engagement for Resolvion,” Darling added.
Faulkner shared his perspectives about joining Resolvion.
“I am excited to be working with Scott and his team. He, Mike and others have built a high functioning operational team out of two great companies in one of the toughest periods in the industry,” Faulkner said.
“I have worked for over 25 years in operations as well as finance, and appreciate the need to drive performance across all business areas in order to create value for both our customers and shareholders,” he went on to say.
Finally, Resolvion president Joshua Elias described what the reshaped executive team means for company clients.
“The additions and promotions to our leadership team are significant as we remain focused on our commitment to our clients as we navigate through the recovery of our industry,” Elias said.
“All have vast experience and knowledge across all functions of our servicing platform that will serve our organization and customers well,” he continued. “We look forward to working with our clients and partners as we continue to expand our national repossession management platform.”
Last week, EFG Companies announced a new addition to its executive team as part of the company’s focus on wealth creation and business expansion for its clients.
Now part of EFG is Chad Chaffin, who will serve as vice president of risk and reinsurance.
According to a news release, Chaffin brings more than 20 years of experience in underwriting, production, risk management and product development to his role. He will be responsible for all reinsured client underwriting positions and risk exposure.
Chaffin recently served as vice president of P&C underwriting with BCS Financial Corp. where he developed a cyber and privacy liability program for Blue Cross and Blue Shield companies.
“I am excited to join the team at EFG Companies and serve at the forefront of an unprecedented level of change in the retail automotive industry,” Chaffin said in the news release. “My number one goal as vice president of risk and reinsurance is to apply my insight and experience to further enhance EFG’s wealth building services for its clients.”
Chaffin previously served at Beazley USA, Chubb Corp., American International Group (AIG) and Allstate, as well as the co-creator of a proprietary method of online insurance sales for FindInsuranceServices.com.
He is a registered professional liability underwriter (RPLU) and is a chartered mutual fund counselor (CMFC).
“At EFG, we recognize that our people make the difference when it comes to delivering on our promise to provide clients with the best possible resources, innovation, and client engagement,” said John Pappanastos, president and chief executive officer of EFG.
“That’s why we significantly invest in finding and developing our talent. Chad’s critical skills and experience will be well utilized in our ongoing efforts to expand our clients’ business and meet their financial goals,” Pappanastos went on to say.
VantageScore Solutions — which develops consumer credit scoring models that combine the need for both financial inclusivity and dependable predictiveness across all scoring ranges — appointed a new president and chief executive officer on Tuesday.
Taking on this role is financial services industry and fintech veteran Silvio Tavares, who formerly was a senior executive at Visa and Fiserv\First Data where he led their data and information products businesses, leveraging financial data to decrease risk for banks and merchants while increasing their revenues.
More recently Tavares was founder, chairman and CEO of the Digital Commerce Alliance (DCA), a leading global trade association serving the world’s leading banks, fintech and technology companies, including DCA members companies Bank of America, Discover, MasterCard, Microsoft and Klarna, among others.
Through a news release, VantageScore highlighted that Tavares brings deep experience in innovation in the fields of financial data and analytics as well as a proven track record of ESG, inclusion and stakeholder management.
Tavares also has authored or co-authored over a dozen patents in financial data analytics.
“I am thrilled to be taking the helm of VantageScore at a time when the opportunities for the company have never been greater,” Tavares said in the news release.
“We will build on the momentum that the company has achieved and intensify our focus on innovation, data-driven outcomes and financial inclusion while continuing to provide lenders with best-in-class predictive credit scoring models across all scoring ranges,” he continued.
VantageScore said it has become part of the mainstream consumer lending landscape and introduced many innovations, including the access to free credit scores and the development of models that are able to safely and soundly score consumers who are “credit invisibles” when conventional, legacy credit scoring models are used.
Three primary users of VantageScore’s products — Equifax, Experian and TransUnion — all cheered the move by the company to bring aboard Tavares as its new leader.
Sid Singh is president of United States Information Solutions (USIS) at Equifax.
“Having a more inclusive financial system has been linked to stronger and more sustainable economic growth and development,” Singh said. “Equifax and VantageScore have a shared commitment to addressing the needs of underserved communities, and we look forward to working with Silvio in his new capacity as president and CEO of VantageScore.”
Alex Lintner is group president of Experian’s Consumer Information Services.
“VantageScore, like Experian, is deeply committed to helping drive more equitable access to fair and affordable credit for consumers; and innovation and the use of expanded data sit at the center of that commitment for both companies,” Lintner said. “We believe Silvio will continue that mission and progress to a more inclusive financial system. We look forward to working with him to bring more people into the mainstream credit economy.”
Steve Sassaman is president and chief commercial officer at TransUnion.
“VantageScore credit risk scores are a central part of the consumer credit ecosystem because they promote greater financial inclusion and offer lenders predictive performance lift across a wide range of industries,” Sassaman said. “The impact and use of these scores will continue to expand, and as a proven innovator in financial data and analytics, Silvio Tavares is an excellent choice to lead the future of VantageScore Solutions.”
According to the news release, Barrett Burns, the founding president and CEO of VantageScore, has transitioned to a newly created position of vice chairman.
“I would like to thank Barrett for his over 15 years of distinguished service to the financial services industry and for leading the charge to create an environment where competition and innovation thrive amongst credit score model developers,” Tavares said.
According to a study released in 2019, approximately 12.3 billion VantageScore credit scores were used in a 12-month period ending in June of 2019.
VantageScore credit scores were used in that 2019 period by more than 2,500 unique entities, including approximately 2,200 financial institutions.
“I have relished the opportunity to create a national brand from scratch and to position VantageScore firmly in the mainstream credit ecosystem,” Burns said. “I am particularly proud that since we launched the company in 2006, we have doggedly pursued financial inclusion and developed models that are able to score 96 percent of all adults 18 years and older in the United States without sacrificing safety and soundness standards.
“As usage of our models continue to grow, I have been heartened that the financial services industry has recently become more focused on this important issue, and I step down knowing that VantageScore is in Silvio’s capable and creative hands,” Burns went on to say.
This week, APCO Holdings created a new executive position who’s tasked with advancing the organization’s project planning and changing management capabilities to drive continued growth.
Picked to be in this role for the F&I provider, administrator and home to the EasyCare, GWC Warranty and MemberCare brands is Bobbie Davis, who will serve as vice president of the company’s enterprise project management office.
“We are excited to have Bobbie join our leadership team to steer the evolution of project management, process development, and resource planning as our company grows,” APCO Holdings chief executive officer Scot Eisenfelder said in a news release. “She will play a key role in helping us successfully plan and implement the strategic initiatives that we have envisioned for the future.”
Prior to joining APCO, Davis held various positions of increasing leadership focused on project and program management, ERP implementations, service lifecycle management, human resources and information technology.
She was most recently director of enterprise PMO for PowerPlan.
“I welcome the opportunity to build a lasting discipline which will solidly establish APCO Holdings as a project-based organization that continuously propels the business to greater heights. I am honored to partner with an organization that is committed to excellence and maximizing the customer experience,” Davis said.
