Leadership transition at Exeter Finance

This month see financial services industry veteran Thomas Anderson take over as CEO at subprime specialist Exeter Finance as the company seeks to build on the growth overseen by previous CEO Mark Floyd, who has filled the post since 2010 and who will continue to serve on the board of directors.

Anderson has nearly three decades of management and financial services industry experience, with a variety of leadership and CEO roles at leading global organizations including Capital One, Amerifee, Upromise, Sallie Mae, Integrity Interactive, and Education Dynamics. Prior to his operating roles, he was a partner at McKinsey & Co. in the financial institutions group.

Outgoing CEO Floyd explained: “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 US.

“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,” Floyd said.

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.”