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GMAC CFO heads to Providence Equity Partners GMAC CFO heads to Providence Equity Partners

10 Mar 2010. Source: AltAssets
Providence Equity Partners, a global private equity firm specialising in media, entertainment and communications investments, has hired former GMAC executive vice president and CFO Robert Hull. He will join Providence as CFO, succeeding Raymond Mathieu, who will become a managing director focused on special projects.

In his most senior position, Hull helped GMAC become a bank holding company in late 2008 and worked closely with the US Treasury and the Federal Reserve to complete multiple equity transactions in 2009, including adding Chrysler as a business partner in May.

GMAC provides a suite of financial programmes, including insurance and mortgage operations, in various countries. The company was previously the wholly owned financial services arm of General Motors, before the US automaker divested the unit.

Jonathan Nelson, CEO of Providence, said, “Rob brings an exceptional track record of serving as CFO at large and complex financial institutions, as well as public and private companies in a variety of industries.”

Providence investment Kabel Deutschland, a TV, telephone and internet services company, is gearing up for an initial public offering, with a portion of the company set to list on the Frankfurt Stock Exchange.  

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