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Michael Rhodes is Chief Executive Officer of Ally Financial, the nation's largest all-digital bank. Ally serves more than 10 million customers through a focused financial services platform that includes banking, auto and corporate finance, insurance, and investing services.
Under Michael's leadership, Ally remains focused on its purpose of "Do It Right" for customers, colleagues, and communities. Together with more than 10,000 teammates, he is leading the company's next chapter of growth and digital innovation while building on Ally's strong culture.
Prior to joining Ally, Michael served as Chief Executive Officer and President of Discover Financial Services and as a member of its Board of Directors. Earlier in his career, he held senior leadership positions at TD Bank Group, Bank of America, and MBNA.
Michael has held leadership roles across North America and Europe, including the United Kingdom, Spain, and Ireland. His experience spans banking, payments, and specialty finance, including service as CEO of a GTCR-backed portfolio company. He began his career as an engineer with Failure Analysis Associates.
Michael is a member of the Business Roundtable and the Charlotte Executive Leadership Council. He previously served on the boards of the Bank Policy Institute, the Consumer Bankers Association, and the Canadian Bankers Association. He has also served on the boards of numerous nonprofit and community organizations, including United Way of Delaware, Boys & Girls Clubs of Delaware, the Thurgood Marshall College Fund, ChristianaCare, the Delaware Symphony Orchestra, and the Winterthur Museum, Garden & Library.
Michael holds an engineering degree from Duke University and an MBA from the Wharton School of the University of Pennsylvania.
Elected to the Duke University Board of Trustees in 2019, Michael serves as the chair of the Graduate and Professional Education and Research Committee. He is also a member of the Executive Committee and Audit and Compliance Committee.
July 2026