According to a recent press release, JPMorgan Chase (JPM 0.49%) has named a new head of its Chase Auto Finance division. The former leader of JPMorgan's Auto Finance unit, Marc Sheinbaum, has resigned to "pursue other opportunities" and will be replaced by new CEO Thasunda Brown Duckett.
Duckett will oversee an auto finance unit with ties to more than 75% of U.S. franchised auto dealers, and more than $50 billion in assets, in addition to leading Chase's student lending business. Duckett has been with JPMorgan Chase since 2004, holding several executive positions, including leading the institution's East Coast mortgage sales operations, and its affordable-lending division.
Gordon Smith, CEO of Chase Community & Consumer Banking, said Duckett's "strategic thinking and her business discipline make her uniquely qualified for this new role."
