GMAC Bank Announces New Chief Financial Officer
08 Januar 2004 - 3:01PM
PR Newswire (US)
GMAC Bank Announces New Chief Financial Officer HORSHAM, Pa., Jan.
8 /PRNewswire/ -- GMAC Bank has named Brian Kuelbs its chief
financial officer, responsible for all financial activities at GMAC
Bank. Functional groups reporting to the CFO include treasury
services, mortgage portfolio management, and accounting/control
functions within the bank. "Brian brings extensive investment
experience and knowledge of the mortgage business to the Bank,"
said Jay Barr, president of GMAC Bank. "Brian's talent is
invaluable, as we continue to grow our investment portfolio and
build a world class investment management team at GMAC Bank. Our
objective is to contribute significantly to the earnings and
diversification objectives of GMAC as a whole." Our strategy is
comprised of three primary goals: * Growth of GMAC Bank's balance
sheet with high quality assets, efficiently sourced primarily from
existing GMAC and GMACR loan origination franchises to generate
material and consistent earnings growth; * Create incremental and
low cost liquidity; and * Offer business and consumer-banking
products that improve cost efficiency and produce new customer
relationships. Kuelbs previously served as chief of staff for GMAC
Residential Holding Corp. His responsibilities included strategic
planning and communications for holding company business units
(GMAC Home Services, GMAC Mortgage, GMAC Bank). Kuelbs previously
served as president of GMAC Mortgage asset management and CORE Cap,
Inc. In this capacity, he managed all aspects of the business,
including portfolio management, asset/liability management,
structured finance and financial reporting. Prior to that, Kuelbs
served as vice president of capital markets and manager of the
residential mortgage origination trading desk for GMAC Mortgage
Corporation. Kuelbs earned a bachelor's degree in business
administration from the University of Wisconsin - Madison, with
majors in mathematics, quantitative analysis, and finance. He
earned a master's degree in business administration, with a
concentration in finance, and received honors from the University
of Notre Dame Graduate School of Business. About GMAC Bank With its
home office in Greenville, Del., GMAC Bank is a federally chartered
thrift, a member of the FDIC, and an Equal Housing Lender. GMAC
Bank is an affiliate of GMAC Mortgage Corporation, one of the
nation's largest residential mortgage lenders and servicers
throughout the United States. GMAC Bank offers consumer banking and
FDIC-insured money market accounts, certificates of deposit and
other products/services in person, via the phone, by mail and
through the Internet. GMAC Bank is a subsidiary of GMAC Residential
Holding Corp., an indirect, wholly owned subsidiary of General
Motors Corporation. For more information, please refer to our
website: http://www.gmacbank.com/ DATASOURCE: GMAC Bank CONTACT:
Erica Stoddard of GMAC Bank, +1-248-273-0813 Web site:
http://media.gm.com/ http://www.gm.com/ http://www.gmacbank.com/
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