NEW YORK -

According to a document referenced in recent reports and also shared with SubPrime Auto Finance News, Chase Auto Finance named Mark O’Donovan as chief executive officer.

O’Donovan succeeds Thasunda Duckett, who was named CEO of Chase’s consumer bank last month. O’Donovan will shift over from being the bank’s controller to his new post where he will report to consumer & community banking CEO Gordon Smith, who announced the decision along with Chase chief financial officer Marianne Lake.

“He is a 20-year veteran of the firm and brings a strong set of experiences to his new role,” Gordon and Lake said in the document first distributed to Chase employees. “He has outstanding financial credentials, experience across a broad set of businesses and a proven track record on people leadership.

“Among his many skills, Mark is known as a great manager leading large global teams. He will make an excellent CEO for Auto Finance,” Gordon and Lake continued.” We will now begin a search for Mark’s successor, and he will help us manage through the transition.

Along with being global controller for the investment bank and treasury and securities services, Chase mentioned O’Donovan has spent time serving the bank in New York, London and Singapore.

Gordon and Lake touched on the current status of Chase’s auto financing endeavors.

“Our auto business has been performing very well, delivering 20 consecutive quarters of loan and lease growth,” they said. “During that time, the team has consistently improved client satisfaction and was recently named the top-rated bank in J.D. Power’s 2016 Dealer Financing Satisfaction Study.

“We look forward to Mark hitting the ground running and building on their success,” Gordon and Lake went on to say. “Please join us in wishing him great success in his new role.”