Michael Carpenter

Michael retired as CEO from Ally Financial Inc. in February 2015 after a long and distinguished career in the financial services industry.

Ally, formerly GMAC, was a recipient of $13 billion of government funding under the TARP program in 2009 and was experiencing significant losses when Michael assumed the CEO position. He retired from Ally after returning the company to profitability, taking the company public in April 2014, and after repaying Treasury almost $16 billion by 2014. From 1998 to 2006 Michael was a member of Citigroup’s senior management group, having been the architect of the Travelers-Citi merger. During his tenure, he served as chairman and CEO of Citigroup Alternative Investments (2002-2006) and chairman and CEO of Citigroup’s Global Corporate and Investment Bank (1998 to 2002), with responsibility for Salomon Smith Barney and Citibank’s corporate banking activities. Prior to Citigroup, served as CEO of Travelers Life and Annuity and vice chairman of Travelers Group, Inc.