5 questions with … TD Auto President and CEO Andrew Stuart

TD Auto Finance President and Chief Government Andrew Stuart is utilizing his huge auto trade expertise to information his crew by an evolving macroeconomic surroundings. 

Andrew Stuart, President and CEO, TD Auto

Stuart’s love of vehicles drove him to a profession within the auto trade, the place he landed in quite a lot of roles.  

“There’s been a whole lot of various things that I’ve finished throughout the auto trade,” Stuart informed Auto Finance Information. “I usually say to individuals, ‘I’m an inch deep and a mile broad by way of my expertise,’ however I believe that provides you nice background, context and perspective as a senior chief to lean on a few of these experiences as you’re making selections going ahead.” 

Stuart began his profession in gross sales throughout school at a dealership in Nova Scotia, Canada, earlier than turning into the finance and insurance coverage supervisor. He went on to function chief govt of Bentley Motors, Inc.; chief working officer at Ron Tonkin Dealerships; and president, chief govt, govt vp and chief monetary officer at Volkswagen Credit score. 

Stuart joined TD Auto in August 2014 as president and chief govt for greater than six years earlier than serving as head of company operations for TD Financial institution Group for one 12 months. He returned as president and chief executive of TD Auto in December 2021 whereas additionally filling the duties as govt vp at TD Financial institution. 

“There are such a lot of nuances to our enterprise that retains it very attention-grabbing,” Stuart informed AFN. “It’s actually an thrilling place to be and I wouldn’t have it another manner. I like this trade.” 

Auto Finance Excellence spoke with Stuart about his profession, his method to management and his ideas on tendencies within the auto finance trade. What follows is an edited model of the dialog. 

Auto Finance Excellence: What are your organization objectives in about 10 phrases or much less? 

Andrew Stuart: I can’t listing all our objectives in 10 phrases or much less, so I’ll share with you our imaginative and prescient and our objective. We’ve an agreed-upon imaginative and prescient that we need to develop into a top-five auto finance lender delivering best-in-class customer support. Our objective is to counterpoint the lives of our clients, colleagues and communities.  

AFE: What do you assume is essentially the most underrated lending development? 

AS: We’ve been in an surroundings with an amazing quantity of change just lately, however one of the underrated lending tendencies might be e-contracting and digital cost options. All people form of pays lip service to e-contracting and the alternatives round digital funds. Integration into our everyday to get it in order that [e-contracting] is 100% of how we do enterprise would make an amazing affect for lending establishments, shoppers and OEMs, however we’re nonetheless not fairly there.  

We’re making progress day by day, however there’s actually an amazing alternative to get to 100% e-contracting proper throughout the board with digital deal jackets. And get to a digital funds surroundings the place funds are flying backwards and forwards between sellers and monetary establishments in actual time.  

We’ve made some progress with real-time payments this 12 months, and that has develop into our major manner of reimbursing sellers for funding packages. It occurs in actual time; they don’t have to attend for twenty-four hours, bettering a supplier’s money stream. I do know there are some establishments on the market which might be nonetheless taking a number of days to pay their sellers on a funding bundle. We should always actually lean into getting extra know-how embedded in our day-to-day processes so we reap the advantages each from a buyer perspective and from a monetary establishment perspective. 

AFE: What’s your favourite piece of management recommendation ever acquired? 

AS: I had a pacesetter one time … they weren’t shy to ask questions in the event that they didn’t perceive one thing. I took that as a chunk of management recommendation: to not be afraid to ask questions and search to grasp. That’s relevant to understanding the individuals in your group or understanding the individuals that you simply lead. And main with empathy and understanding and desirous to know individuals.  

My curiosity has served me properly over time, each by way of the right way to get to know the individuals in your group or your clients and other people that you simply’re working with, but additionally to grasp your enterprise rather well and to study day by day slightly bit extra concerning the surroundings and the particular nuances of the work that you simply’re doing. 

AFE: Who has had the largest affect in your profession? 

AS: I’ve had a really broad profession, and there’s been varied individuals which have been influential to me at completely different phases. I picked three. The primary is Paul Regan, who owned the supplier group that I labored for after I was in school. He actually took an curiosity in me, acquired me enthusiastic concerning the enterprise and was keen to present me alternatives in management inside his group at a really younger age. That gave me an ideal grounding within the retail facet of our enterprise, however it additionally gave me a way of self confidence that I might do extra, and that I might be a pacesetter even at a younger age.  

The second individual was Clive Warrilow, president of Volkswagen Canada on the time after which subsequently the president of Volkswagen of America. He had an ideal affect on me for comparable causes.  

The final individual that had essentially the most affect on me can be my mentor at Volkswagen Credit score, the previous president and CEO of that firm, Kevin Kelly. These three people made me the enterprise chief that I’m as we speak. 

AFE: What’s one thing your staff can be stunned to find out about you? 

AS: I don’t assume there’s very a lot that my staff would discover shocking about me. They’ve labored with me for the final eight years or so. I attempt to be a really clear and inclusive chief with all of my staff, and after eight years on the helm, there isn’t a lot they don’t learn about me. I can actually say that I’m very a lot an open e book to our staff. 

Auto Finance Summit East, Auto Finance Information’ new spring occasion, kicks off Could 10-12 on the JW Marriott Nashville that includes a fireplace chat with Peter Muriungi, CEO of Chase Auto. Go to autofinance.live/afs-east. 


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