NEW  YORK — Earlier this week, GMAC Financial Services announced that it has named a corporate treasurer.

Taking on the position is Jeffrey Brown, In this role, he will have responsibility for all treasury activities, including funding and balance sheet management. He 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.

"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 de Molina, chief executive officer of GMAC.