Alvaro G. de Molina has been named CEO of GMAC Financial Services, replacing Eric Feldstein, who is taking a position at parent Cerberus Capital Management. The company said Mr. de Molina will oversee all GMAC operations and focus on strengthening the company's core businesses while positioning GMAC for long-term growth. In his new role at Cerberus Capital Management, which holds a majority interest in GMAC Financial Services, Mr. Feldstein will advise Cerberus with regard to its large financial services portfolio and with new investment opportunities. Mr. de Molina, 50, had a long career with Bank of America before joining GMAC in August of 2007.
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