Ally Financial Inc. (NYSE: ALLY) announced Russell (Russ) Hutchinson will join the company as its chief financial officer, effective July 3, 2023. He will report to Ally CEO Jeffrey Brown and be based in Charlotte, N.C.
Hutchinson brings extensive experience in the financial-services industry, with a long, successful track record of execution and results. He most recently served as chief operating officer for global mergers and acquisitions at Goldman Sachs Group Inc., after holding the position of chief strategy officer, where he oversaw mergers and acquisitions (M&A), strategy and innovation. Earlier, he spent two decades working in Goldman’s Investment Banking Division, advising clients in the specialty finance sector – including Ally.
“I have known Russ since my arrival to our company in 2009, and he has been one of my most reliable and trusted outside advisers. He was instrumental in helping us to evolve into the publicly traded and strong company we are today,” said Brown. “Russ is well-known for being a collaborative partner who gets results, and his long-standing appreciation and respect for our culture at Ally – as well as existing relationships with our key stakeholders and our board of directors – make me confident he will be an outstanding addition to our company and our leadership team.”
Prior to joining Goldman Sachs, Hutchinson began his career as an associate consultant at the Boston Consulting Group in its Toronto office. He is a member of the Boards of Trustees of The Studio Museum in Harlem and Hospital for Special Surgery. He is also a member of the Council on Chicago Booth, which advises leadership at the University of Chicago Booth School of Business.
Hutchinson was a Canada Scholar and earned a Bachelor of Science in Engineering Physics from Queen’s University in Canada and an MBA from the University of Chicago Booth School of Business.
Bradley Brown, who has served as interim CFO since October 2022, will return to his full-time role as corporate treasurer once Hutchinson begins in July.
“I want to thank Brad, who went above and beyond to support our company and finance team during the past several months, while continuing to deliver for our shareholders,” said Brown. “We have a deep bench of seasoned, talented leaders in our CFO group, and I know together with Russ, they will continue to build on our company’s momentum and live up to our Ally promise.”