Tim Russi played a key role in the company’s transition away from its once-close relationship on General Motors. He will be succeeded by Doug Timmerman, a 32-year Ally veteran.
The Waterbury, Conn., company also posted a double-digit gain in net interest income thanks to a 7% increase in commercial loan balances and a widening net interest margin.
Major card brands have been competing to surpass each other with rewards and premium card offerings for decades, but American Express still views the premium card world as one it dominates.
Matt Zames, the former JPMorgan Chase executive who had been seen as a candidate for Deutsche Bank's top job, was named president of the investment firm Cerberus Capital Management.
