Tuesday, August 28, 2007

Chrysler Financial, GMAC Could Merge Some Functions

Posted by Marcie Belles on Aug 28 2007 05:43:13 PDT
Accounting, information technology, and administration are some of the areas ripe for consolidation at Cerberus Capital Management's two newest auto financing units, said Paul Knauss, president and chief executive of Chrysler Financial.

Cerberus will likely target places "where you can find opportunities to get costs out and move faster," Knauss said.

But because it is so tightly intertwined with Daimler Financial, Chrysler Financial will likely remain separate from Cerberus unit GMAC, he said. It will probably take six months to separate Daimler and Chrysler's IT system, he added.

Click on "Read More" below for the full article by Detroit Free Press.

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