The Chevy brand was already a major player in finance and car buying when it was founded by former Apple engineer Jim Bauerschmidt in 1989.
After the company’s acquisition by GM in 2006, it expanded to include financing products.
Chevy was one of the first companies to make a major splash in finance when it acquired GM in 2007, and now its CEO is CEO of the financial company Equifax.
Its chief financial officer, Michael Stansbury, was recently hired by Equifax as its new CEO.
Stansbury was part of a team that won the US government $2.8 billion in 2010 to help improve Equifax’s financial reporting.
At the time, Equifax was trying to fix its own problems, and the company was under pressure from the Securities and Exchange Commission (SEC) to be more transparent.
Stanbury and his team created the company to help consumers make smarter financial decisions, and he says he is now looking forward to getting to work.
Stansampy is also a major investor in Equifax, which is currently valued at $2 billion.
“It’s been a privilege to work for Equifax and to help build a world-class financial service, but I’m excited to move on to new challenges and a new job with a brand that is synonymous with the American dream,” he told Business Insider in a statement.
“As CEO of Equifax I look forward to being part of the team that helps to lead the next generation of financial leaders, and I look to be a great partner for Equiviewars.”
Equifax, like many of the major financial institutions that rely on Chevy financing, was once the target of a $10 billion fraud scheme by hackers.
Stansampies team said it has taken measures to identify the hacker who stole the data, and said it will use data to develop a new product that would improve financial reporting and protect consumers.
The company also recently announced a $30 million round of funding to help it expand its consumer finance offerings, and it said it plans to hire at least 200 new employees.