GFS
GMAC Financial Services
About the Company
GMAC Financial Services is a global, diversified financial services company. GMAC maintains a diversified portfolio of business operations, including automotive finance, dealer and personal line insurance, real estate finance and other commercial businesses. At December 31, 2006, GMAC held more than $287 billion in assets and earned net income for 2006 of $2.1 billion on net revenue of $18.2 billion.
GMAC was established as a wholly owned subsidiary by General Motors Corporation (GM) in 1919, and currently operates in approximately 40 countries. In November 2006, GM sold a 51 percent controlling interest in GMAC to a consortium of investors led by Cerberus Capital Management, L.P.
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