NEW YORK -- GMAC Financial Services today announced that Jeffrey Brown has been appointed to the position of corporate treasurer. 

He will have responsibility for all treasury activities, including funding and balance sheet management, and will report to GMAC Chief Risk Officer Sam Ramsey.

"Jeff's experience and leadership will be a valuable asset to the organization, as we build our business and enhance our treasury function," said Ramsey. 

Prior to joining GMAC, Brown spent more than 10 years at Bank of America, most recently serving as corporate treasurer. Prior to his role as corporate treasurer, he worked in a number of other capacities at Bank of America. He led the Balance Sheet Management division and prior to that traded mortgage and derivative products in the Corporate Investments division. In addition, he was a member of Bank of America's Asset/Liability Management Committee.

Brown serves on the executive advisory board of the College of Business and Behavioral Sciences at Clemson University. He received a bachelor's degree in economics from Clemson University and an executive master's degree in business administration from Queen's College of Charlotte.

"I am pleased that we continue to attract high-caliber talent to our company, which enhances our capabilities during this crucial turnaround effort. The strength of our leadership team is the reason I am optimistic about the future of GMAC," said Alvaro G. de Molina, chief executive officer of GMAC.