Daily News: October 22, 2014

Exeter Appoints Commercial Lending Veteran as CEO

Exeter Finance announced Thomas Anderson, a financial services industry veteran, was named CEO, effective November 3, 2014. Mark Floyd, who has served as CEO since 2010, will continue to serve on the board of directors and work with Anderson to ensure a smooth transition.

Anderson previously served as CEO and president of EducationDynamics, Integrity Interactive Corporation and Upromise. He was an SVP at Sallie Mae where he was responsible for the federal consolidation loan business and the direct to consumer private loan business. Earlier in his career, he was SVP at Capital One Financial, and president and CEO of AmeriFee Financial, a medical finance company owned by Capital One Financial. Anderson began his career with McKinsey, where he counseled a variety of financial services clients on strategies related to insurance, consumer and commercial lending, retail and commercial banking.

Floyd said, “In 2010, I came out of retirement to help build Exeter and lead it through an extraordinary period of growth. In just four years, with an incredibly talented team, we have created a leading auto finance organization providing the highest level of service to more than 8,700 dealers and thousands of customers throughout the U.S. It is now the right time for the Company and me personally to turn over the reins to new leadership as we look to the company’s next phase of growth. Tom is a dynamic and proven leader and I look forward to working with him to effect the smoothest possible transition.”

Martin Brand, cirector at Exeter and senior managing director of Blackstone said, “On behalf of the entire Board, I would like to thank Mark for his extraordinary contributions to Exeter’s success to date. Under his leadership, the company has grown from $64 million in active loans, 97 employees and seven branches to nearly $3 billion in active loans, 1,132 employees and 32 branches – establishing Exeter as the third-largest issuer of subprime retail auto loan ABS. We look forward to Mark’s continued engagement with the Company as a member of the board.”

Anderson said, “I am excited to join Exeter and look forward to working with the Company’s first-rate executive team as we look to build on the Company’s historically strong performance. I am especially focused on developing deeper value-added partnerships with our loyal customers and dealers.”