GMAC Financial Services announced that Samuel Ramsey has been appointed to the newly created position of chief risk officer, effective immediately.

In this role, Mr Ramsey will have responsibility for global risk management and treasury activities including funding and balance sheet management. He will report to GMAC’s COO Al de Molina.

David Walker, GMAC group vice president of global borrowings, has been named GMAC treasurer. In this role, he has responsibility for global funding activities and reports to Mr Ramsey.

Prior to joining GMAC, Ramsey has spent over 25-years at Bank of America Corporation, most recently serving as CFO of global corporate and investment banking. He holds a bachelor of arts in economics from the College of William and Mary.

Mr Walker has led the global borrowings group at GMAC since 2006. Prior to
that, he served as CFO of GMAC’s mortgage group. He joined GMAC in 1985 and during his tenure held several leadership roles in the areas of mortgage, funding and securitization, and liability management.

Mr Molina said: Sam brings extensive finance and risk management experience to GMAC and we are pleased to appoint him to this new role. As GMAC crosses the one-year mark as a standalone organization, we continue to strengthen and broaden the management team to suit the size and scope of our business. Risk and treasury are critically important to the future success of our company and Sam has a proven track record in both.