U.S. Markets closed

Ally Financial replaces chief financial officer

DETROIT (AP) -- Ally Financial Inc., an auto financing and banking company that has been working toward exiting U.S. government ownership, said Monday it named Corporate Treasurer Christopher Halmy as its new chief financial officer, effective Nov. 8.

Halmy 45, replaces James Mackey, who is leaving for another, undisclosed job. Halmy joined the Detroit company in 2009.

Bradley Brown, the structured funding executive, will become treasurer. Brown is 47.

Ally, the former financing arm of General Motors Co., had to be rescued in late 2008 when the economy and auto industry nosedived, with the government spending $17.2 billion to save the company and keep auto loans coming. Ally has been preparing to repay the government for the past year, amassing cash by selling assets outside the U.S.