Banking

Ally Financial names Charlotte exec head of banking unit

Ally Financial said Tuesday that it has promoted a Charlotte-based executive to head the company’s Internet-based banking unit.

The announcement means another major executive for the company will be based in Charlotte, where Ally employs roughly 800 people. Last month, the Detroit company promoted Charlotte-based Jeffrey Brown to CEO. Brown remains based in Charlotte.

On Tuesday, Ally named Diane Morais to CEO and president of Ally Bank, a subsidiary of Ally Financial. She replaces the bank’s former CEO and president, Barbara Yastine, who announced her resignation last week. Yastine was based in New York.

Ally, formerly the financing arm of General Motors, is a large auto lender. Those loans are partially funded with deposits from Ally Bank, which is online only and has no branches.

In a conference call with investors last month after his promotion was announced, Brown called Ally’s banking business “untapped.” He said he is looking to do more business with existing customers, such as providing auto loans to customers of Ally Bank.

Brown previously ran Ally’s auto finance and insurance business from his office in Charlotte. As CEO, his base salary has risen to $1 million, up from $600,000 last year, the company said in a securities filing last week that also announced Yastine’s departure.

Yastine joined Ally Financial as chief administrative officer in 2010, under former CEO Michael Carpenter, whose retirement was announced last month.

Morais’ most recent role with Ally Bank included overseeing its deposits business. She joined Ally in 2008. Before that, she held a variety of senior leadership positions at Charlotte-based Bank of America.

Roberts: 704-358-5248; Twitter: @DeonERoberts

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