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    Russell E. Hutchinson

    Chief Financial Officer at Ally Financial Inc
    Since July 3, 2023
    Age
    50 years
    Education
    Earned a Bachelor of Science in Engineering Physics from Queen's University in Canada and an MBA from the University of Chicago Booth School of Business.
    Tenure
    Joined Ally Financial as Chief Financial Officer on July 3, 2023, and has since managed key financial functions including finance, accounting, and capital markets.

    Also at Ally Financial Inc

    About

    Russell E. Hutchinson, aged 50 as of fiscal year 2024 , has established a robust academic foundation by earning a Bachelor of Science in Engineering Physics from Queen's University in Canada and an MBA from the University of Chicago Booth School of Business.

    He began his career as an associate consultant at Boston Consulting Group before spending nearly two decades at Goldman Sachs in roles that included Chief Operating Officer for Global M&A, Chief Strategy Officer, and head positions within the Financial Institutions Group, demonstrating wide-ranging expertise in financial services and strategic initiatives.

    Since joining Ally Financial on July 3, 2023 as Chief Financial Officer, he has been responsible for overseeing finance, accounting, capital markets, treasury, investor relations, and other critical functions, contributing his extensive experience to drive the company’s financial strategy.

    Past Roles

    OrganizationRoleDate RangeDetails
    Goldman Sachs Group Inc. Chief Operating Officer for Global Mergers & Acquisitions Jan - Apr 2023 Held this role before joining Ally
    Goldman Sachs Group Inc. Chief Strategy Officer 2021 - 2022 Oversaw mergers, acquisitions, strategy, and innovation
    Goldman Sachs Group Inc. Investment Banking Division Role N/A Spent two decades advising clients in the financial services sector, including Ally
    Boston Consulting Group Associate Consultant N/A Worked in the Toronto office

    External Roles

    OrganizationRoleDate RangeDetails
    The Studio Museum in Harlem Board of Trustees N/A Current position
    University of Chicago Booth Council on Chicago Booth (Advisory Role) N/A Advises leadership at the Booth School of Business
    Charlotte Center City Partners Board of Directors Member N/A Current board membership

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$750,000 AnnualAnnual base salary.
    RSU Stock Awards$1,353,793 Vest in equal installments on each of the first three anniversariesGranted on January 26, 2024; Comprised of 35,886 RSUs ($1,350,031) and 100 RSUs ($3,762).
    Equity Acceleration Upon Termination$7,299,623 Contingent on termination event (without cause, change in control, or death/disability)Long-term incentives accelerate upon termination.
    Outplacement Services$20,000 Lump sum, as provided under the Company Severance PlanProvided under the Company Severance Plan.
    Perquisites and Benefits$185,625 As per plan benefit scheduleIncludes relocation assistance ($143,087), liability insurance ($126), and 401(k) matching ($34,500).
    Deferred CompensationN/AN/ANo specific mention in the documents.

    Performance Compensation

    Data from  FY 2024

    Performance Compensation: PSU Awards for 2024

    MetricValueAdditional Details
    Performance MetricsCore ROTCE (excluding OCI) and Relative TSR Incentivizes capital allocation and aligns with stockholder returns.
    Threshold8,972 shares 25% vesting on meeting service condition and threshold performance.
    Target35,886 shares 100% vesting upon achieving target performance.
    Maximum64,595 shares 180% vesting upon reaching maximum performance.
    Vesting ScheduleOne-time vesting on the third anniversary Vesting contingent on service condition and achievement of performance metrics during the evaluation period.
    Grant DateJanuary 26, 2024 Date on which PSU awards were granted.
    Grant Date Fair Value$1,350,031 Total fair value of PSU awards granted in 2024.
    Weighted-average Grant Date Stock Price$37.99 Used in calculating the value of PSUs.
    Evaluation PeriodJanuary 1, 2024 to December 31, 2026 Performance period during which metrics are measured.
    DividendsAccumulated and paid at or after settlement Cash value equivalent to declared dividends during the vesting period.