Ally Financial Inc. (NYSE:ALLY) Q2 2023 Earnings Conference Call July 19, 2023 9:00 AM ET

Company Participants

Sean Leary - Head of IR

Jeffrey Brown - CEO

Bradley Brown - Corporate Treasurer

Russell Hutchinson - CFO

Conference Call Participants

Sanjay Sakhrani - KBW

Jeffrey Adelson - Morgan Stanley

Ryan Nash - Goldman Sachs

Arren Cyganovich - Citi

Richard Shane - JPMorgan

Operator

Good day, and thank you for standing by. Welcome to the Second Quarter 2023 Ally Financial Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] And be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker, Sean Leary, Head of Investor Relations. Please proceed.

Sean Leary

Thank you, Carmen. Good morning, and welcome to Ally Financial's second quarter 2023 earnings call. This morning, our CEO, Jeff Brown; and our Corporate Treasurer, Brad Brown, will review Ally's results before taking questions; CFO, Russ Hutchinson has also joined for today's call. The presentation will reference can be found on the Investor Relations section of our website, ally.com.

Forward-looking statements and risk factor language governing today's call are on Slide 2. GAAP and non-GAAP measures pertaining to our operating performance and capital results are on Slide 3. As a reminder, non-GAAP or core metrics are supplemental to and not a substitute for U.S. GAAP measures. Definitions and reconciliations can be found in the appendix.

And with that, I'll turn the call over to J.B.

Jeffrey Brown

Thank you, Sean. Good morning, and thank you for joining the call. Before I start into details on the quarter, I'd like to take a moment to officially welcome our new CFO, Russ Hutchinson to Ally. I've known Russ for nearly 15 years and he's been one of my most reliable and trusted advisers during my time as CEO. He's a terrific addition to our team and a great partner to the investment community, many of whom have relationships with Russ already. Russ, welcome.

And why don't I turn to you to see, if there's any comments you'd like to add.

Russell Hutchinson

Thanks, J.B. As J.B. mentioned, I have first had knowledge of Ally's excellent culture from working with this leadership team over many years. I'm thrilled to be joining the company now at Ally's day to days particularly rich set of opportunities across its auto finance and Ally Bank businesses.