Synchrony names new president, CFO
STAMFORD — Consumer financial-services firm Synchrony announced Thursday the appointment of two company veterans as the president and chief financial officer.
Brian Doubles — who has worked at Stamford-based Synchrony for 21 years, including the past 10 years as chief financial officer — has been promoted to president. He is the first person to solely serve as Synchrony’s president, taking over the role from CEO Margaret Keane, who previously held the post in addition to the chief executive position.
Doubles will focus on accelerating the company’s growth and diversification and oversee areas, including business strategy, venture investments and mergers and acquisitions, enterprise-data analytics, customer experience and marketing the expansion of the company’s direct-to-consumer banking and products strategy.
“We’ve built a strong foundation for the future, investing deeply in technology and innovation and are positioned to win in the evolving finance and payments landscape,” Doubles said in a statement. “As we continue to transform, this new role will allow me to drive even greater focus on our strategy and further diversify the business while continuing to grow our core and deep partner focus.”
Brian Wenzel Sr., Synchrony’s deputy chief financial officer, was promoted to succeed Doubles as CFO.
“I look forward to continuing to work closely with Synchrony’s executive team as chief financial officer,” Wenzel said in a statement. “Together we are focused on continued execution of our financial and growth objectives, and I’m confident we are well positioned for long-term success.”
Doubles and Wenzel will report to Keane, who has led Synchrony since its 2014 spin-out from GE into its own publicly traded company.
Synchrony is headquartered at 777 Long Ridge Road, near the Merritt Parkway’s Exit 34.
The company ranked No. 173 on last year’s Fortune 500 list.
In the past quarter, Synchrony’s revenues totaled about $4.2 billion, a 10 percent increase from the same period in 2018.
Profits jumped to $1.1 billion, from $640 million a year ago — a jump that reflected a $522 million release from the company’s reserve related to the pending sale of its Walmart credit portfolio.
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