Citigroup-Associates Truck Operations to Stay in Dallas
Post-merger truck financing operations for the combined Citigroup (C) - Associates First Capital (AFS) financial corporation will remain in Dallas, along with the rest of the company’s commercial finance business.
The companies hope the merger, unveiled in September, will be completed before the year ends.
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An Oct. 31 announcement from the company said the division, which does not yet have a formal name, will be managed by Roy A. Guthrie, currently the chief financial officer of Associates. Citigroup’s Global Equipment Finance division based in Harrison, N.Y., will remain open as an operations center, but its personnel will report to Guthrie in Dallas.
Citigroup’s commercial finance section is currently run by Sal Maglietta.
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