Ally Bank CEO Barbara Yastine to Depart

By Lisa Beilfuss 

Ally Financial Inc. said Barbara Yastine, the head of its banking unit, will step down, a move that comes less than two months after Jeffrey Brown took over as the auto lender's chief executive.

Ms. Yastine, who served as chief executive, chairman and president of the banking unit, will remain with the company until June to assist with the transition. She became CEO of Ally Bank in May 2012 and had joined the company two years earlier as chief administrative officer. Ally said a successor would be named in the near term.

The Detroit-based company, which was formerly known as GMAC, named Mr. Brown to succeed Michael Carpenter as CEO in early February. Mr. Carpenter's comments about a decision by former parent General Motors Co. to shut the company out of a lucrative leasing business didn't sit well with Ally's board, The Wall Street Journal reported at the time.

In the wake of his appointment, Mr. Brown outlined a plan to build up Ally's retail-banking businesses and push further into other areas of auto financing, including subprime loans.

Ally went public in April, and the Treasury Department shed its final stake in December.

Access Investor Kit for Ally Financial, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US02005N1000

Access Investor Kit for General Motors Co.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US37045V1008

Subscribe to WSJ: http://online.wsj.com?mod=djnwires