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De Molina Joins Cerberus

June 19, 2007

Former Bank of America Corp. Chief Financial Officer Alvaro de Molina has recently joined Cerberus Capital Management. De Molina will help operate the firm’s financial-service holdings, which include the 51 percent stake in GMAC Financial Services it bought from General Motors Corp. and interests in banks in Japan and Austria.

Molina spent 17 years at Bank of America, serving as head of the investment bank and as head finance chief.

Molina announced his departure in December 2006, after 14 months as Chief Financial Officer at Bank of America.

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