Press Room

GMAC Names Walker Group V.P. of Global Borrowings

Sep 4, 2006

DETROIT - GMAC Financial Services today announced that David C. Walker has been named group vice president of Global Borrowings for GMAC Financial Services, with responsibility for funding GMAC's global origination platform, effective Nov. 1, 2006. He will succeed Paul Bull, who is retiring.

 

 

Walker, 45, will report to GMAC Chief Financial Officer Sanjiv Khattri.

Walker has been group vice president of GMAC Mortgage Operations where he played an integral role in the formation and successful launch of Residential Capital Corporation (ResCap). Walker played a significant role in the successful sale of 78 percent interest in GMAC's commercial mortgage operations.

"Dave has demonstrated strategic leadership through his numerous and successful experiences in GMAC," said Khattri. "I am excited to have someone of Dave's capability lead us in this critical area as we prepare for a new phase in our history. And I want to thank Paul for his immeasurable contributions to GMAC and for his very successful leadership of the Borrowings function during some very difficult times."

Walker originally joined GMAC as a senior financial analyst in 1985. He assumed responsibility as the CFO for GMAC's Mortgage Operations in 2000. Walker holds a bachelor's degree in economics from Brown University (1982) and a master's degree in business administration from the University of Michigan (1984).

GMAC is a global financial services company that operates in 39 countries, in auto finance, residential mortgage, insurance and commercial finance businesses. With more than $300 billion in assets, it generated nearly $2.4 billion in net income in 2005, on net revenues of $19.2 billion.

Contacts:
Michael Stoller
GMAC Global Communications
313.665.0955
michael.r.stoller@gm.com

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