July 10, 2015

Toyota Financial Services announces executive changes

Toyota Financial Services Corporation (TFSC) announced that Mike Groff, President and CEO of TFS USA, is appointed to CEO of the Toyota Financial Services Americas Region. Groff will now oversee TFS operations in the mainland United States, Canada, Puerto Rico,
Mexico, Brazil, Venezuela, and Argentina.

Groff has held the role of President of TFS USA since 2013. TFS has been the #1 volume auto finance company for new retail and lease contracts in the United States for the past three years.

In 2014, Groff initiated plans for TFS USA's headquarters move to Plano, Texas to better align its business with other Toyota North American affiliates.

Mike Groff joined Toyota in 1983, and has held field positions including TFS Branch Manager and Regional Manager, as well as headquarters positions that include Corporate Marketing and Leasing Manager, Vice-President of Corporate Strategy, Vice-President of Customer Service, and Senior Vice-President of Sales, Product and Marketing. In addition to his TFS responsibilities, Groff is also a National Trustee for the Boys and Girls Clubs of America. Groff received a Bachelor of Arts degree in Business Administration from California State University, Fullerton, and earned a Master's degree in Business Administration from Chapman University in Orange, California.

TFSC also announced that Chris Ballinger, TFS USA Senior Vice-President and Chief Financial Officer, will assume additional responsibility in the new global leadership role of Chief Officer, Management Innovation.  In this role, Ballinger will be helping to guide global TFS strategy to address future market trends and business model requirements. Ballinger's appointment to this role reflects recognition of the impact and influence of the North American market for financial services globally, as well as Ballinger's leadership and innovation.

Chris Ballinger joined TFS in September 2003 as Vice-President of Treasury, overseeing the Financial Risk Management, Sales and Trading, Capital Markets and Cash Management groups. Promoted to Group Vice-President in December 2006, he also assumed the responsibility for Global Treasury for Toyota Financial Services Corporation. In 2008, he assumed the additional responsibilities of Finance and Accounting, taking on the Chief Financial Officer role as well. Ballinger received a bachelor's degree in Economics from Amherst College and a master's degree in Economics from the University of California, Berkeley.


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