Exeter Finance Corp. Announces Leadership Transition

Thomas Anderson Appointed Chief Executive Officer

Mark Floyd to Continue Serving on Board of Directors

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Oct 21, 2014, 06:15 ET

IRVING, Texas, Oct. 21, 2014 /PRNewswire/ -- Exeter Finance Corp. today announced that Thomas Anderson, a financial services industry veteran, has been named Chief Executive Officer, effective November 3, 2014. Mark Floyd, who has served as Chief Executive Officer since 2010, will continue to serve on the Board of Directors and work with Mr. Anderson to ensure a smooth transition.

Thomas Anderson, 51, is a seasoned executive with nearly three decades of management and financial services industry experience. Mr. Anderson has served in a variety of leadership and Chief Executive Officer roles at leading global organizations including Capital One, Amerifee, Upromise, Sallie Mae, Integrity Interactive, and Education Dynamics. Prior to his operating roles, Mr. Anderson was a Partner at McKinsey & Co. in the Financial Institutions Group. Today's announcement will position Exeter for the next stage of its growth and development as the Company continues to increase its origination volume, enhance its servicing capacity, deepen its partnerships, and maximize profitability.

Said Floyd, 61, "In 2010, I came out of retirement to help build Exeter and lead it through an extraordinary period of growth. In just four years, with an incredibly talented team, we have created a leading auto finance organization providing the highest level of service to more than 8,700 dealers and thousands of customers throughout the U.S. It is now the right time for the Company and me personally to turn over the reins to new leadership as we look to the Company's next phase of growth. Tom is a dynamic and proven leader and I look forward to working with him to effect the smoothest possible transition."

Martin Brand, Director at Exeter and Senior Managing Director of Blackstone said, "On behalf of the entire Board, I would like to thank Mark for his extraordinary contributions to Exeter's success to date. Under his leadership, the Company has grown from $64 million in active loans, 97 employees and seven branches to nearly $3 billion in active loans, 1,132 employees and 32 branches – establishing Exeter as the third-largest issuer of subprime retail auto loan ABS. We look forward to Mark's continued engagement with the Company as a member of the Board."

Brand continued, "We welcome Tom to the Exeter team and look forward to working with him to take Exeter to the next level."

Mr. Anderson served as Chief Executive Officer and President of three companies: EducationDynamics (a marketing services company for higher education), Integrity Interactive Corporation (an ethics and compliance company), and Upromise (a financial services company). Mr. Anderson was a Senior Vice President at Sallie Mae (after Upromise was acquired by Sallie Mae) where he was responsible for the Federal Consolidation Loan business and the Direct to Consumer Private Loan business. Earlier in his career, Mr. Anderson was a Senior Vice President at Capital One Financial Corporation, and he was President and Chief Executive Officer of AmeriFee Financial, a medical finance company owned by Capital One Financial Corporation. Mr. Anderson began his career with McKinsey, where he counseled a variety of financial services clients on strategies related to insurance, consumer and commercial lending, retail and commercial banking. Mr. Anderson received a Bachelor's Degree from Dartmouth College and a Master's Degree in Management from MIT's Sloan School.

Anderson said, "I am excited to join Exeter and look forward to working with the Company's first-rate executive team as we look to build on the Company's historically strong performance. I am especially focused on developing deeper value-added partnerships with our loyal customers and dealers."

About Exeter Finance

Exeter Finance Corp. is a specialty auto finance company based in Irving, Texas. Exeter partners with franchised auto dealers throughout the country to make car ownership a reality for consumers. Building personal relationships and providing the highest level of service to dealers and customers have been keys to the company's success since its founding in 2006. Please visit www.exeterfinance.com to learn more.

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