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Ally Financial Inc. (NYSE:ALLY), a financial services company with a market capitalization of $11.79 billion and a notable dividend yield of 3.13%, reported the upcoming retirement of its Chief Accounting Officer and Controller, David J. DeBrunner, according to a statement released Monday. The company said DeBrunner notified Ally of his intention to retire, citing professional and personal priorities. Ally noted that his decision was not related to any disagreement with the company regarding its operations, policies, or practices. According to InvestingPro data, the company maintains a FAIR financial health score, with analysts recently revising earnings expectations upward for the upcoming period.
Effective August 8, 2025, Austin T. McGrath will take over as Chief Accounting Officer and Controller. McGrath has been with Ally since 2007 and was appointed executive director of Investor Relations in January 2025. Prior to that, he held various accounting positions within the Corporate Controllers Group, most recently serving as executive director for SEC Reporting, Regulatory Reporting, and Risk Finance from June 2021 through January 2025. McGrath is a Certified Public Accountant and holds a bachelor’s degree in accounting from Lehigh University.
In connection with his new role, McGrath will receive an annual base salary and will be eligible for incentive compensation in the form of cash and equity awards under Ally’s Incentive Compensation Plan. He will also receive employee benefits consistent with those provided to similarly situated employees. The company stated that McGrath has no family relationships with any director or executive officer of Ally or Ally Bank, and there are no arrangements or understandings with any other person related to his appointment. Additionally, there are no transactions involving McGrath that require disclosure under SEC regulations.
This information is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Ally Financial reported robust second-quarter earnings for 2025, with earnings per share reaching $0.99, surpassing both the consensus forecast of $0.81 and JPMorgan’s estimate of $0.82. The company’s revenues totaled $2.1 billion, exceeding expectations by nearly 3%. Following these results, JPMorgan raised its price target for Ally Financial to $45, maintaining an Overweight rating. Conversely, BofA Securities adjusted its price target to $43, while keeping a Buy rating, citing improved credit trends and a lowered high-end outlook for net charge-offs.
Additionally, Ally Financial has rolled out its proprietary AI platform, Ally.ai, to all 10,000 employees. This platform aims to assist with tasks such as drafting emails, creating meeting agendas, and data analysis. The development of Ally.ai began in 2023 and is designed to enhance productivity across the organization. These recent developments highlight Ally Financial’s strategic initiatives and financial performance.
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