MINNEAPOLIS, Aug. 1 /PRNewswire/ -- GMAC Residential Funding Corporation
(GMAC-RFC) today announced the creation of its Asia business unit with the
appointments of Senri Sasahara and Jari Jison as Japan Business Development
Director and Asia Business Development Director, respectively.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000801/MNTU022-a
Photo: http://www.newscom.com/cgi-bin/prnh/20000801/MNTU022-b
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000324/MNF002 )
Sasahara, a former Bank of Tokyo-Mitsubishi executive with extensive
mergers and acquisitions (M&A) experience, will direct the company's Japanese
expansion and will be based in GMAC-RFC's Tokyo office. Jison, a 14-year
veteran of GMAC-RFC, will explore expansion opportunities in Japan and other
Asian markets. Jison will be based in GMAC-RFC's headquarters in Minneapolis.
The creation of GMAC-RFC's Asia business unit is part of a larger plan to
establish GMAC-RFC as a global provider of capital solutions to consumer and
business partners. GMAC-RFC President Bruce Paradis said Sasahara's and
Jison's appointments are the first in a series of the company's business
development activities in the Asia Pacific region.
"Senri Sasahara is uniquely qualified to lead our Japanese expansion plans
because he understands both U.S. and Japanese business cultures," said
Paradis. "That knowledge, when combined with his extensive mergers and
acquisitions experience, will be critical to the success of our efforts to
identify market opportunities and continuously strengthen and diversify GMAC-
RFC's presence in Japan."
In the newly created position of Business Development Director-Japan,
Sasahara will be responsible for overall development and implementation of the
strategy. Based in Tokyo, Sasahara will also assist with the integration,
growth, and diversification of the company's Japanese business as well as
serve as a liaison between GMAC-RFC's operations in Japan and the United
States.
Prior to his position at Bank of Tokyo-Mitsubishi, Sasahara was an
executive at Kleinwort Benson, Barclays Bank, and Sanwa Shutter Corp. He
holds a B.A. in economics from Hitotsubashi University in Japan and a M.B.A.
from INSEAD in France.
Jison has been involved in GMAC-RFC's international expansion activities
in Latin America and the United Kingdom, in addition to managing various
operational areas during his career at GMAC-RFC. In the newly-created
position of Business Development Director-Asia, Jison will work with Sasahara
on Japan's business expansion while leading GMAC-RFC's foray into other Asian
markets. "Jison's expertise in GMAC-RFC's mortgage and securitization
business will form the foundation for GMAC-RFC to expand its financial and
operational investments in Asia," said Keenen Dammen, managing director,
Investment Capital for GMAC-RFC.
Jison holds a B.S. in Industrial Management Engineering from De La Salle
University in the Philippines and an M.B.A. from Northwestern University in
Chicago, Ill.
GMAC-RFC views expansion into the Asia-Pacific region as integral to its
long-term strategy. The Japanese market, in particular, is seen as a source
of numerous diversification opportunities. "Both U.S. and Japanese financial
services companies are rapidly deploying resources to meet the increasing
sophistication of corporations, consumers and investors," Dammen said.
"GMAC-RFC's infrastructure and international capital markets expertise will
allow us to be the provider of choice for consumer loans, small business loans
and residential mortgages."
GMAC-RFC, a wholly owned subsidiary of General Motors Acceptance
Corporation, is America's largest non-agency issuer of mortgage-backed
securities and a leading residential warehouse lender. The company leverages
its strengths in securitization, lending and investment to offer a broad
portfolio of innovative capital solutions. The company is headquartered in
Minneapolis and operates in the United States, Europe, Latin America, and
Japan. More information is available at http://www.rfc.com
SOURCE GMAC-RFC
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Related links:
http://www.rfc.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20000801/MNTU022-a Photo:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20000801/MNTU022-b
Photo: NewsCom:
http://www.newscom.com/cgi-bin/prnh/20000324/MNF002
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 201-369-3467
Company News On-Call:
http://www.prnewswire.com/comp/138832.html or fax,
800-758-5804, ext. 138832
CONTACT:
Jodi Ehlers Swanson of GMAC-RFC,
952-832-7343, jehlers@rfc.com , or Randy Sands of Shandwick
International, 952-346-6191, rsands@shandwick.com , for GMAC-RFC
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