Ally Financial named a new chief executive today, ending a three-month search.

Michael Rhodes will take the reins of the bank April 29 and become a member of the board, according to an Ally release. Prior to joining Ally, Rhodes served as CEO of Discover Financial Services, which Capital One announced plans to acquire last month. He has 25 years’ experience across retail and consumer banking, including a 12-year stint at TD Bank.

Doug Timmerman has served as interim CEO in addition to president of dealer financial services at the lender since Feb. 1 after Jeffrey Brown stepped down effective Jan. 31. Timmerman will continue as president of dealer financial services, according to Ally.

Timmerman has been with Ally for more than 30 years, holding several leadership roles during his tenure. He has served as president of dealer financial services since 2021, and before that, was president of auto finance since 2018. Timmerman has spent more than 30 years at Ally.

Ally continues to work through its AI playbook with over 200 uses for AI identified within its operations, Sathish Muthukrishnan, chief information, data and digital officer at Ally, previously told Bank Automation News.

Editor’s note: This article first appeared on Auto Finance News, a sister publication to Bank Automation News.