U.S. Treasury Names John D. Durrett To Ally Financial Board

The U.S. Treasury today named John D. Durrett, a strategic adviser to Serent Capital, to the board of directors of Ally Financial Inc., the auto industry lender that was bailed out as part of the Troubled Asset Relief Program.

“This appointment is part of the administration’s ongoing commitment to prudent stewardship of TARP investments,” said Tim Massad, the Treasury’s acting assistant secretary for financial stability, in a statement today, reported Bloomberg.

Durrett was formerly managing director of McKinsey & Co.’s West Coast U.S. offices and chairman of the finance committee on McKinsey’s board of directors. The Treasury Department worked with the executive search firm Spencer Stuart in identifying candidates.