Chase Names Marc Sheinbaum CEO of Auto and Education Finance

Chase today appointed Marc Sheinbaum CEO of Auto and Education Finance, which focus primarily on indirect lending. Sheinbaum has spent the last 22 years as a key executive in consumer finance at General Electric and American Express, most recently as President of GE Money Services. "Marc has excellent business sense, discipline and management experience, and he understands the importance and potential of a powerful brand,” said Charlie Scharf, CEO of Retail Financial Services. "His experience will help us continue our momentum in Auto Finance and to develop our student-lending business into the best in the country.” As the largest bank auto lender in the country, Chase manages a portfolio of $38 billion in loans through relationships with more than 15,000 auto dealerships. Last year, it also created a comprehensive education finance business with the purchase of Collegiate Funding Services, and now provides student loans through 2,500 schools and universities and directly to consumers. Sheinbaum began his professional career as a technology auditor and management consultant at Coopers & Lybrand, then served in financial systems, business planning and product development roles over seven years at American Express. He joined GE in 1992 as chief risk officer for the private-label credit card operation. He served as president and general manager of GE’s Montgomery Ward credit-card business, then senior vice president of client development, and chief marketing officer for GE Consumer Finance in the Americas. For the last three years, Sheinbaum has led GE Money Services, a 1,000-employee business comprised of the Partnership Marketing Group, Auto Warranty Services, Cashworks and Financial Protection Products. Chase is the U.S. consumer and commercial banking brand of JPMorgan Chase & Co. (NYSE:JPM). Chase has 154 million credit cards issued and serves consumers and small businesses through more than 3,000 bank branches, 8,500 ATMs and 280 mortgage offices as well as through relationships with 15,600 auto dealerships and 2,500 schools and universities. It also serves more than 25,000 commercial banking clients, including corporations, municipalities, financial institutions and not-for-profit entities. More information about Chase is available at www.chase.com.