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Gateway One Lending & Finance Announces Executive Leadership Changes

Company Release - 3/17/2017 12:00 PM ET

Todd A. Pierson Named President of Gateway One

Andrew B. Sturm Named Chief Operating Officer

ANAHEIM, Calif.--(BUSINESS WIRE)-- Gateway One Lending & Finance, LLC (Gateway One), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (TCF) (NYSE: TCB), recently announced the appointment of Todd A. Pierson as president, Gateway One Lending & Finance and Andrew B. Sturm as executive vice president and chief operating officer. Pierson is responsible for managing all aspects of the Gateway One business and Sturm leads business operations. Pierson reports to Michael S. Jones, executive vice president, consumer banking for TCF. In conjunction with these appointments, Brian MacInnis, who previously served as chief executive officer of Gateway One, and David MacInnis, who served as president of the business, concluded their employment with TCF and have decided to pursue other endeavors outside of TCF.

“Todd is the ideal choice to lead Gateway One through its next chapter and formulation of a new strategy together with his leadership team,” said Jones. “Todd has been with Gateway One since its inception and has played a significant role in the growth and expansion of the business. TCF is committed to the auto finance business, which is a crucial contributor to TCF’s strategy of asset diversification, and we are excited about supporting Gateway One in its next stage of development. Together with Andrew Sturm and the entire Gateway One leadership team, I’m confident that Todd will help the business achieve its full potential. I also want to acknowledge the contributions of Brian and David MacInnis during their ten years of service to Gateway and, more recently, TCF. They led Gateway with integrity and character.”

Pierson added, “Gateway One has seen tremendous growth since it became part of TCF Bank in 2011 with originations reaching $3.6 billion in 2016. I am honored to have the opportunity to lead this outstanding organization and its dedicated team members. I look forward to building on Gateway One’s strong track record of outstanding service to both our dealer partners and our customers. In building a future strategy for Gateway One, we are actively seeking to contribute to all of TCF’s strategic pillars of diversification, profitable growth, operating leverage and core funding. Now that we have achieved significant growth, we will be shifting our focus toward stable profitability with a focus on efficiency and effectiveness.”

Todd Pierson joined Gateway One at its inception as chief operating officer and oversaw sale and credit among other responsibilities. As an 18 year veteran of the auto finance industry, Pierson served in a number of senior executive positions with Onyx Acceptance Corporation prior to joining Gateway One. His experience outside of auto finance includes various leadership roles at Ceridian Tax Services and Hewlett-Packard.

Andrew Sturm joined Gateway One in 2010, serving as executive vice president, loan servicing. He has more than 16 years of experience in the auto finance industry and his prior experience includes serving in senior leadership roles with Onyx Acceptance Corporation.

About Gateway One Lending & Finance
Gateway One Lending & Finance, LLC, a subsidiary of TCF National Bank, is an indirect automotive origination and servicing company that is headquartered in Anaheim and conducts business in all 50 states through its network of more than 11,400 franchise and independent dealer relationships. In 2016, Gateway One originated $3.6 billion in auto loans. For more information about Gateway One Lending & Finance, please visit gatewayonelending.com.

About TCF
TCF is a Wayzata, Minnesota-based national bank holding company. As of December 31, 2016, TCF had $21.4 billion in total assets and 339 branches in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona and South Dakota providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing, equipment finance, and auto finance business in all 50 states and commercial inventory finance business in all 50 states and Canada. For more information about TCF, please visit tcfbank.com.

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TCF
Media:
Mark Goldman, 952-475-7050
news@tcfbank.com
or
Investors:
Jason Korstange, 952-745-2755
investor@tcfbank.com

Source: TCF Financial Corporation