Auto lender TD Auto Finance U.S., based in Farmington Hills, Mich., has named a new president and CEO.
Marc Womack, 52, was previously COO of the company. In his new role, which was announced Nov. 12, Womack will be tasked with steering the company on an expansion in the U.S. market, according to a news release. TD Auto Finance is a subsidiary of Cherry Hill, N.J.-based TD Bank Group, one of the country’s largest lenders.
“TD Auto Finance benefits from enormous growth potential, and under Marc’s leadership, the business will be well positioned to further expand its presence in the U.S. market,” Greg Braca, CEO of TD Bank, said in a news release. “Marc is an experienced industry leader with a proven track record of transforming business strategies that drive growth and increase efficiency. I look forward to having him on my Management Committee as we work together to integrate TD Auto Finance with our Consumer business.”
TD Auto Finance employs about 500 people in metro Detroit, according to a company spokesperson. The company was launched in 2011 following the acquisition of Chrysler Financial by TD Bank.
Womack, who lives in the Dallas area, earned his MBA from Northwestern University’s Kellogg School of Management and a bachelor’s degree from Michigan State University.