Leadership

Michael Rhodes is the chief executive officer of Ally Financial Inc., responsible for driving Ally’s evolution as a full-service financial services company with the nation's largest all-digital bank and an industry-leading auto financing business. He also serves on the company’s board of directors.

Rhodes has more than 25 years of experience across retail and consumer banking and has a track record of delivering transformative digital, data, and technology strategies.

Prior to joining Ally in April 2024, Rhodes served as the CEO and president of Discover Financial Services and president of Discover Bank, as well as a member of the board of directors of Discover Financial Services and Discover Bank.

Before Discover, Rhodes spent over 12 years at TD Bank Group, serving as group head, Canadian Personal Banking, overseeing the division dedicated to retail products and serving customers through mobile, online, telephone, and a network of more than 1,000 branches. During his tenure at TD Bank, Rhodes also led North American Credit Card and Merchant Services and served as head of Innovation, Technology, and Shared Services. In this role, he strengthened operational resilience, security, and efficiency while improving the bank's capability to support emerging technologies, such as artificial intelligence and cloud migration.

Earlier in his career, he held senior leadership positions at Bank of America and MBNA America Bank. He managed businesses in Canada, the United States, the United Kingdom, Spain and Ireland in a variety of roles within payments and banking. He began his career as an engineer working for a leading engineering and scientific consulting firm.

Rhodes is active in supporting several important social causes and currently serves on the Board of Trustees of Duke University, where he also is the chair of the Governance Committee. Prior community boards include the United Way of Delaware, the Boys and Girls Club of Delaware, the Thurgood Marshall Scholarship Fund, Christiana Care Health Systems, the Delaware Symphony Orchestra, and Winterthur Garden Museum and Library.

Rhodes earned his Master of Business Administration from the Wharton School of Business at the University of Pennsylvania and holds a Bachelor of Science in engineering from Duke University.