August 1, 2014 at 5:10 pm

GM's finance arm expanding in Texas, could hire hundreds

General Motors Financial Co. Inc., a subsidiary of General Motors Co., said Friday it is expanding its Arlington, Texas, operations center and could add hundreds of new employees there over the next few years.

GM Financial said it bought a 240,000-square-foot building on 22 acres in Arlington, just a block from where about 2,150 GM Financial employees work in operations and customer service. The company is renovating the new space, which it will use for offices and a training and conference center.

The captive finance arm of GM said the new building will house about 800 to 900 employees, most of whom the company will hire as new employees over the next two to three years.

“The purchase of this building demonstrates the continued growth and expansion that GM Financial has experienced during the past three years,” Dan Berce, president and CEO of GM Financial, said in a statement. “We have more than doubled our employee base in North America and are pleased to have acquired this additional office space in such close proximity to our existing operations center.”

GM Financial employs 6,200 globally and is headquartered in Fort Worth, Texas; it was established in fall 2010 when GM acquired AmeriCredit Co. Today, GM Financial has about 4,600 employees in North America, with customer service centers also in Chandler, Arizona; Huntersville, N.C.; and, Peterborough, Ontario.

GM’s finance arm, which earned $566 million last year, is known primarily for issuing auto loans to borrowers with less-than-stellar credit but is expanding this year to offer car loans to U.S. customers with prime credit ratings. GM Financial earlier this year said it served about 830,000 customers and provides auto finance services to about 14,000 dealers.

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