Providers and Administrators in blue logo
MenuMENU
SearchSEARCH

GMAC May Tap Ex-Citigroup Banker Yastine as New CFO

May 6, 2010
2 min to read


NEW YORK - GMAC Inc., the U.S.-controlled auto and home lender, is close to naming a chief financial officer and has considered appointing Barbara Yastine, the former CFO for investment banking at Credit Suisse Group AG and Citigroup Inc., three people with knowledge of the search told Bloomberg.


Yastine, 50, is a top prospect because she’s worked before at Citigroup with Michael Carpenter, GMAC’s new CEO, said the people. They declined to be identified because the search is confidential. Detroit-based GMAC is looking for someone to replace James Mackey, the interim CFO since Robert Hull left in March for a private-equity firm.

Ad Loading...


The process was still winding down as of early this week, according to one person. Gina Proia, a GMAC spokeswoman, declined to comment, and efforts to reach Yastine weren’t successful.


The new finance chief will help Carpenter devise an exit from government bailout programs, which funneled more than $17 billion to the lender and gave the U.S. a 56 percent stake. Carpenter reported the company’s first operating profit since 2007 earlier this week, following an annual loss last year that exceeded $10 billion.


Yastine has been a consultant to Southgate Alternative Investments, the investment firm founded by Carpenter, 63, according to the firm’s Web site. She served as CFO of New York- based Citigroup’s investment bank from 2000 to 2002 when Carpenter ran the business and later was finance chief from 2002 to 2004 at Credit Suisse’s investment bank, the Web site said.


Hull left at the end of March to join Providence Equity Partners, the Rhode Island-based investment firm. He joined GMAC in 2007 from Bank of America Corp., the former employer of Al de Molina, who was replaced by Carpenter as CEO in November.


Yastine attended New York University, where she received an undergraduate degree in journalism and a master’s degree in business administration, according to a 2002 Credit Suisse statement.

Ad Loading...


Carpenter said during a May 3 conference call that he’d be meeting this week with regulators about how to pay back the U.S., using a combination of tactics that may include an initial public offering. The Congressional Oversight Panel said in March the Treasury should require GMAC “to lay out a clear path to viability or a strategy for fully repaying taxpayers.”


Next week GMAC is changing its corporate name to Ally Financial Inc., but its auto unit will continue to do business under the GMAC name.

More Industry

Photo of the rear of a new BMW iX SUV
Industryby Hannah MitchellMay 12, 2026

New-Vehicle Prices Rise

With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.

Read More →
Graphic of car segments' results the previous week
Industryby StaffMay 12, 2026

Black Book: Weekly Market Update

Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.

Read More →
Graphic of last week's estimated used retail days to turn
Industryby StaffMay 6, 2026

Black Book: Weekly Market Update

Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.

Read More →
Ad Loading...
cargo ship with vehicles, at dock
Industryby Lauren LawrenceMay 5, 2026

EU Auto Association Urges Action

Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.

Read More →
two people working on a paper contract together
IndustryMay 1, 2026

Driving into the Super CFC Era

Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.

Read More →
Photo of outdoor electric-vehicle charger
Industryby Hannah MitchellApril 28, 2026

Global Roads Getting More Electric

China easily reigns in the segment, but European countries’ adoption rates are growing. The U.S., probably due to market size, has the second biggest EV fleet.

Read More →
Ad Loading...
Graphic of wholesale weekly price index
Industryby StaffApril 28, 2026

Black Book: Weekly Market Update

The full-size pickup segment, which has been dominant in the U.S., ended 11 consecutive weeks of gains with a slight dip last week.

Read More →
Line graphic showing week-over-week wholesale auto price changes
Industryby StaffApril 22, 2026

Black Book: Weekly Market Update

Wholesale auto conversion rates dropped slightly as auction buyers proved picky last week, analysts observed.

Read More →
pavement with car and charger wrapped around it painted on

EV Battery Cycle Life at Risk

Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.

Read More →
Ad Loading...
Photo of exterior facade of Beardmore Chevrolet store
Industryby Hannah MitchellApril 14, 2026

Founding Family Sells Nebraska Dealerships

Expanding Midwest automotive group picks up three stores as part of the robust transaction activity early this year.

Read More →