Scott Stengel will join Ally Financial as the company’s general counsel, effective May 31, the company announced in a news release Thursday (April 28).
Ally’s current General Counsel William Solomon, Jr. will retire after more than 27 years with the company, effective Sept. 30. Stengel will report to Ally Chief Executive Officer Jeffrey Brown, be based in Charlotte, N.C., and have responsibility for all legal and corporate governance matters.
“Bill (Solomon) has provided outstanding counsel to Ally for over two decades, and has helped guide the company through many meaningful transformation efforts in more recent years,” Brown said. “I thank him for the service and guidance he has provided to the company during his tenure.”
Stengel, 44, joins Ally from Kansas City, Mo.-based UMB Financial Corp., where he was the executive vice president, general counsel and corporate secretary.
Before his time at UMB Financial, he was a partner at King & Spalding and a partner at Orrick, Herrington & Sutcliffe in Washington, D.C. He began his career as a judicial law clerk for the Honorable Douglas O. Tice Jr. in Richmond, Va.
“We are pleased to welcome Scott to the Ally team as Bill (Solomon) transitions to his retirement,” Brown said. “Scott brings key experience in consumer finance, as well as in banking and regulatory matters to Ally as we continue to expand our product offerings. He is an accomplished leader, and he will be a great addition to our management team.”