Exeter Finance Corporation is a company that has its specialty in auto financing. It offers and gives finances to individual or borrowers that want to buy car or own a car or vehicle. The company was established in 2006 and base at Irving, Texas. .it works hand in hand with selected vehicle dealers and franchised auto dealers in United States of America.
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Exeter Finance Corporation history
In early February, 2017, Exeter Finance Corporation announced Brad Nall as the Chief financial officer after he had been working with Exeter Finance Corporation since July, 2012 and has also been working in consumer finance industry where he had 25 years’ experience. He has also worked in many careers in finance like financial reporting, structured finance, business development, whole loan sales, project management, budgeting and strategic planning and mergers and acquisitions in which he held many senior roles in each of these careers. Although Brad had a strong background in some finance departments like management of risk, accounting control, compliance, credit and pricing. He received his first degree from southern Illinois University in finance in the year 1988 and has worked in personal loan business in many roles under finance and had worked for 12 years at Citi’s auto financing prior to Exeter Finance Corporation.
During the middle 2016, Exeter Finance Corporation announced the election of Dan Henson, former GE Capital executive as the board chairman. His election was to replace Martin Brand, the former chairman and Blackstone executive. Martin Brand was to continue serving as the Exeter Finance Corporation board executive member. The former Chief executive officer, Mark Floyd was to leave the Exeter Finance Corporation board join the Software Development Company Intel aegis Incorporation which was based in California to be the chairman of the board. Floyd began his tenure as the Chief executive officer in Exeter in 2010, July and he has since contributed to the success and growth of Exeter Finance Corporation before he retired in 2014, October. And later served as interim Chief executive officer in 2015, December. He also served consistently since 2010 in the Exeter Finance Corporation board of directors. Dan Henson who has served in General Electric Company for thirty years brought the experience into Exeter Finance Corporation. He had served with many senior roles at the General Electric Capital Corporation Inc., and GE which includes him serving as the Chief executive Officer of many GE Capital’s commercial businesses lenders in overseas and north America, he also served at GE as the CMO, Chief Marketing Officer. Not far which is of recent, Henson served in GE as an officer and also as GE capital executive vice president, where he directed and headed all the commercial leasing and lending businesses in North America.
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In May 23, 2016, Jason Grubb, the chief Executive officer of the Exeter Finance Corporation announced that the company is unveiling a new logo customers and dealers in celebration of the ten years anniversary of the company and said that the future of the company is filled with great opportunities and exciting future. He said, ‘’ in that spirit, we are pleased to present our new company logo, which reflects our renewed commitment to dealers. Exeter Finance Corporation is more dedicated than ever before to serving our dealers and customers in the most expedient and efficient manner possible’’.
The ten years anniversary of the Exeter Finance Corporation is celebrated using the new logo and the growth of the company since it was established in 2006. In 2014, after the Blackstone group acquired the Exeter Finance Corporation in 2011 which was one of the largest private banking and equity firm, Exeter Finance Corporation boasted of employing over a thousand employees and this company became the number three in the ranking of the ABS (auto loans subprime) issuer.
Over the years of the Exeter Finance Corporation establishment, the company has made investment in technologies and device strategies in improving experience between dealers and customers. At the end of 2015, Exeter Finance Corporation has $1.5 billion in its originations and a receivables of $3.1 billion and has continued thriving and growing.
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Exeter Finance Corporation holds a high and major position in space of subprime auto finance presently.