GMAC Financial Services has named Alvaro G. de Molina to the newly created position of chief operating officer.Mr. Molina will be responsible for GMAC’s real estate finance and commercial finance businesses, and for all of GMAC’s global finance and risk functions. Mr. de Molina previously worked for Cerberus Capital Management, the company that led a team of investors to buy 51% of GMAC Financial Services in late 2006. Previous to joining Cerberus in June 2007, Mr. de Molina was chief financial officer at Bank of America.
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