ATLANTA — Global Lending Services LLC, an automotive subprime lender founded by auto industry veteran Douglas Duncan, unveiled its executive team this week, a group made up of former executives from Wells Fargo, Hyundai Capital, Bank of America and Black Book.
After a long and expansive search, GLS officials said they have assembled a group of executives, which collectively have more than 100 years of industry experience, to lead the company to its goal of becoming a leader in the auto subprime industry.
Leading the team as CEO is Gary Lorenz, who joined the company in March and has led the integration of GLS and the platform and assets of Resurgent Auto Finance following its acquisition by GLS on Aug. 13. Lorenz previously served as the president of Wells Fargo Auto Finance, where he was responsible for a $29 billion loan portfolio and operations in 49 states. Lorenz also managed more than 5,500 employees and 22,000 franchise and independent auto dealers in the U.S. market and Canada.
Serving as CFO is Mark McCall, who also joined the team in March and has been instrumental in the process of developing relationships with GLS' equity partner, BlueMountain Capital Management, and GLS' debt facility provider, UBS. McCall has more than 18 years of investment banking experience. He has worked with some of the world's top firms, including Morgan Stanley, Bank of America, and SunTrust Robinson Humphrey, and he has raised more than $80 billion in his career.
Robert Hurzeler serves as GLS' COO and brings with him 25 years of industry knowledge and experience. He is based at GLS' branch office in Greenville, S.C. where he manages teams of underwriters, funders, and collectors. Prior to GLS, Hurzeler worked with Wells Fargo Auto Finance, where he was responsible for all operations.
Ken Gang, chief risk officer, comes to GLS from Hyundai Capital America, where he served as the head of consumer credit and risk management. Since joining the GLS team, Gang has developed a new, more competitive product and revamped the product that GLS purchased from RAF, according to officials.
Lou Loquasto was named the chief marketing officer. Loquasto and his team are focused on developing efficient processes and effective communications for dealers, agents and sales representatives. Loquasto has also been supportive in developing a GLS market ready program. Prior to joining GLS, he worked at Wells Fargo as head of marketing and strategic initiatives and at Black Book as head of lender solutions. Loquasto has also served on the board of directors for the National Auto Finance Association, serving one term as president.
Additionally, Ryan Foster joined the GLS team as the general counsel. Since joining the team, he has been focused on developing processes that will ensure GLS is registered, licensed and compliant in each state. Foster is a member of the North Carolina, D.C., and Pennsylvania bars.