Minnesota Subprime Auto Lenders Hire Wells Risk Exec

Subprime auto lender Arcadia Financial Ltd. has named James F. Connaughton to the newly created position of senior vice president of risk management.

Mr. Connaughton joins Arcadia, formerly known as Olympic Financial Ltd., from Wells Fargo Bank, San Francisco, where he was vice president and manager of risk management and predictive technologies for the bank's auto finance group.

Before joining Wells Fargo in 1991, Mr. Connaughton was a project manager for risk management solutions at Fair, Isaac & Co. in San Rafael, Calif.

In his new position, Mr. Connaughton will oversee analysis of statistics on Arcadia's underwriting and loan portfolio performance to help assess risk-adjusted profitability. He will report to Scott Anderson, vice chairman of credit administration and operations.

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