MINNEAPOLIS, March 20 /PRNewswire/ -- Residential Capital, LLC, (GMAC
ResCap), a subsidiary of GMAC Financial Services and one of the nation's
largest real estate finance companies, has named William F. Casey as
treasurer, effective April 2, 2007.
Casey, 44, succeeds Louise M. Herrle, who has served as treasurer at
GMAC ResCap since September 2004. Herrle will remain with GMAC ResCap
through May to assist with the transition. Herrle is leaving full-time
corporate involvement to pursue personal interests, including active
community work.
For the past 18 months, Casey has been managing director and assistant
treasurer of GMAC ResCap, where he has been responsible for liquidity
management, global funding strategy and coordination of all investor
partner relationship activities of the company. Prior to joining GMAC
ResCap, Casey was senior vice president and treasurer of GMAC Residential
in Horsham, Pa., responsible for enterprise finance, treasury funding,
operations and services and bank relations.
Before joining GMAC Residential, Casey held a number of senior banking
and treasury positions at Merrill Lynch, Union Bank of Switzerland, Smith
Barney, and Mellon Bank. These positions resulted in a variety of
successful assignments in Zurich, London, New York, Toronto and
Philadelphia.
"This appointment reflects the tremendous contribution that Bill has
made to the treasury operation at GMAC ResCap," said Jim Giertz, chief
financial officer at GMAC ResCap. "I am very pleased we have solid, capable
talent to fill this important position. I would like to thank Louise for
her significant contributions to the successful establishment of GMAC
ResCap. Her leadership was critical to establishing GMAC ResCap as a
respected issuer in the global debt capital markets. We wish her well in
her future endeavors."
About GMAC ResCap
GMAC ResCap (Residential Capital, LLC) is a leading real estate finance
company, focused primarily on the residential real estate market in the
United States, Canada, Europe, Australia and Latin America. The company's
diversified businesses -- GMAC-RFC, GMAC Mortgage, ditech.com, GMAC Bank,
GMAC Real Estate, and Homecomings Financial -- cover the spectrum of the
U.S. residential finance industry, from origination and servicing of
mortgage loans through their securitization in the secondary market. GMAC
ResCap also provides capital to other originators of mortgage loans,
residential real estate developers, resort and timeshare developers and
healthcare companies.
GMAC ResCap (http://www.gmacrescap.com) is an indirect wholly owned
subsidiary of GMAC LLC, a global, diversified financial services company
that operates in approximately 40 countries in automotive finance, real
estate finance, insurance and commercial finance businesses. GMAC was
established in 1919 and currently employs about 31,400 people worldwide. At
Dec. 31, 2006, GMAC held more than $287 billion in assets and earned net
income for 2006 of $2.1 billion on net revenue of $18.2 billion. For more
information, go to http://www.gmacfs.com.
SOURCE GMAC ResCap
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