The credit card issuer Synchrony Financial has launched a reorganization, expanding from three sales divisions to five, in the first big move by new CEO Brian Doubles.
Under the revamped structure, the Stamford, Connecticut-based company will offer consumer credit through five platforms: Digital, Health & Wellness, Home & Auto, Diversified & Value and Lifestyle.
That structure is a departure from Synchrony’s three previous divisions: Retail Card, which has offered credit cards through partnerships with the likes of Lowe’s, Amazon and Sam’s Club; Payments Solutions, which has focused on major consumer purchases like furniture; and CareCredit, which has offered cards for health and veterinary procedures.
Doubles said in a press release that the move will help “accelerate our strategy by aligning our organization for faster growth and execution.” He
Curtis Howse, who previously led Payments Solutions, will oversee the new Home & Auto section, according to the company. Beto Casellas, who has led CareCredit, will oversee the new Health & Wellness Division, and Bart Schaller, Synchrony’s chief marketing officer, will lead the Digital platform. All three of those executives will report to Doubles.
Maran Nalluswami, who is senior vice president and general manager for the Sam’s Club portfolio, will lead Diversified & Value, Synchrony said. Darrell Owens, who is senior vice president and general manager for the TJX Portfolio that includes Marshalls and T.J. Maxx, will head up the Lifestyle division. The heads of those two divisions will report to Tom Quindlen, who has been leading the Retail Card group.
Synchrony also announced that it has established a new Growth organization that will combine the company’s marketing, data, analytics, customer experience and product development groups. Michael Bopp, who was previously chief customer engagement officer, will lead that unit under the new title of chief growth officer.
The $95.9 billion-asset company is also combining its Technology and Operations teams, which will be headed by Carol Juel, whose new title will be chief technology and operating officer. She was previously chief information officer.
