CARMEL, Ind., Jan. 12, 2017 (GLOBE NEWSWIRE) -- Automotive Finance Corporation (AFC), today announced that Paul
Kramarz has joined the company as senior vice president of risk, and Joe Keadle has been promoted to chief operating officer. AFC
is a business unit of KAR Auction Services (NYSE:KAR) focused on providing inventory financing products and services for
independent used vehicle dealers throughout North America.
Kramarz joins AFC with nearly 25 years experience in risk analytics and operational management for the financial services
sector. In this newly created role, Kramarz will focus on risk mitigation strategies and limiting credit risk while strategically
growing AFC’s portfolio. Kramarz will report directly to Jim Money, AFC president.
“AFC is an industry leader in providing innovative business and financial solutions to independent automotive dealers and
delivering exceptional customer service," said Kramarz. “I look forward to expanding the impact of AFC’s risk scoring algorithms
and loss mitigation strategies and focusing on optimizing dealer level profitability.”
Prior to joining AFC, Kramarz served as a director in the financial services advisory practice at Price Waterhouse Coopers.
Kramarz also spent eight years with American Honda Finance Corporation, serving as chief risk officer for several of those years.
During his tenure at Honda, he led a complete re-build of custom credit score cards and automated underwriting criteria, and
implemented the use of score matrixing.
“Paul has a strong track record of fostering and implementing innovation in the automotive industry,” said Money. “His vision
and expertise on the state of the global auto lending industry will be of tremendous value to our company and our customers.”
Taking the AFC Chief Operating Officer role is Joe Keadle. Joe joined AFC in January 2010 as regional manager and was quickly
promoted to vice president of operations for the company's West division. He most recently served as AFC’s senior vice president of
operations.
Keadle is a seasoned automotive industry executive, with a diverse professional background including managing new and used car
departments and finance related executive management positions at Wachovia, New South Federal Savings Bank. He focuses on building
high-performing teams and developing results-oriented sales and operational skills. Keadle will continue to report to Money.
“Joe’s leadership qualities and business acumen have made significant contributions to AFC and the success of our independent
dealer customers,” said Money. “This expanded role will allow Joe to have an even greater impact on AFC’s strategy, operations, and
long-term growth.”
About AFC
AFC is one of the largest providers of independent dealer inventory financing in North America. AFC, as part of KAR Auction
Services, Inc., provides inventory financing programs for retail and wholesale automobile dealers, RV dealers, motorcycle dealers,
commercial truck dealers, salvage and daily rental operators. For more information about AFC, please phone toll free 888-345-0600
or visit us online at AFCDealer.com.
AFC Contact Media Inquiries Devra Callaghan (317)-843-3169 devra.callaghan@autofinance.com KAR Contact Analyst Inquiries Mike Eliason (317) 249-4559 mike.eliason@karauctionservices.com