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MAY 06, 2013 - Yahoo! News

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Ally Financial unit ResCap's CEO resigns

(Reuters) - Residential Capital LLC Chief Executive Thomas Marano has resigned as the mortgage subsidiary of auto lender Ally Financial Inc works its way out of bankruptcy. Marano, who joined ResCap in 2008, will remain as a member of the board. Marano spent more than 25 years at now-defunct investment bank Bear Stearns & Co, where he was the global head of mortgage and asset-backed securities. Marano was managing director at Cerberus Capital Management before moving to ResCap. ...

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