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GMAC GLOBAL RELOCATION SERVICES APPOINTS ERIC STERN TO HEAD NEWLY INTEGRATED EUROPE AND ASIA PACIFIC REGIONS
Move Reflects Growing Importance of Region and Company’s Record Growth, Which Includes 100 Percent Satisfaction Two Years Running
Oak Brook, Ill. (January 23, 2008) – In a move that reflects its growth and expansion plans, GMAC Global Relocation Services today announced that Eric Stern has been chosen to lead the company’s Europe, Middle East, Africa (EMEA) and Asia Pacific operations. Both regions have experienced the fastest growth within the company’s worldwide operations.
“Eric is one of our industry’s most accomplished and respected relocation executives, and his appointment to lead both our EMEA and Asia Pacific operations will ensure that we are well positioned to respond to our clients and to effectively manage our growth,” said Rick Schwartz, president and chief executive officer of GMAC Global Relocation Services.
“Integrating the company’s London, Singapore and Shanghai operations under one leader will provide an even greater level of focus and synergy between these two regions, while ensuring that we continue on our journey for global standardization of structure, process, and technology,” added Schwartz.
The company also announced that Russell Salton will assume responsibility as vice president, Global Operations for the Western Region. In addition to global management of one of the company’s most valued clients, Russell will expand his role to include responsibility for all clients supported by the Western Region.
In addition, Tara Nielsen has been promoted to vice president of Global Alliance Management and will assume responsibility for all operational aspects of the team on a global basis. She is also a member of Schwartz’ senior leadership team.
GMAC Global Relocation Services’ EMEA and Asia Pacific regions have experienced significant growth in a relatively short period of time. That growth has dovetailed with a record number of client signings over the past year, and with 100 percent client satisfaction for two years in a row.
GMAC Global Relocation Services ranked highest in satisfying relocated employees with corporate relocation services, according to J.D. Power and Associates’ 2007 Corporate Relocation Transferee Satisfaction Studys(SM).
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About GMAC Global Relocation Services
GMAC Global Relocation Services LLC, (http://www.gmacglobalrelocation.com) is a leading, full-service outsourcing partner of end-to-end employee relocation, assignment management and mobility consulting services for multinational organizations worldwide. In 2007, GMAC Global Relocation Services ranked “Highest in Transferee Satisfaction with Relocation Companies,” according to J.D. Power and Associates. The company serves corporations in 110 countries and manages more than $1.5 billion in relocation-related transactions. GMAC Global Relocation Services is a business unit of GMAC ResCap (Residential Capital, LLC), a leading real estate finance company.
About GMAC ResCap
GMAC ResCap’s diversified affiliates and businesses -- GMAC-RFC, GMAC Mortgage, LLC, Ditech, GMAC Bank, GMAC Real Estate, GMAC Global Relocation Services and Homecomings Financial, LLC -- cover the spectrum of the residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. GMAC ResCap also provides capital to other originators of mortgage loans and residential real estate developers.
GMAC ResCap (http://www.gmacrescap.com) is an indirect wholly owned subsidiary of GMAC Financial Services. GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and commercial finance businesses. GMAC was established in 1919 and currently employs about 31,000 people worldwide. At Dec. 31, 2006, GMAC held more than $287 billion in assets and earned net income for 2006 of $2.1 billion on net revenue of $18.2 billion. For more information, please go to http://www.gmacfs.com.
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