BMW Group Financial Services North America Declares Shift in Management Hierarchy.
In a significant move within the automotive industry, Broderick McKinney has been appointed as the Vice President, Used Cars, at BMW Group Financial Services, NA. Effective from July 1, 2025, McKinney will report directly to Birgit Boehm, President and CEO of BMW Group Financial Services, NA.
McKinney's appointment follows the departure of Rocio Carrascosa, who is returning to Spain to become the CEO of the Spanish branch of BMW Bank GmbH. Carrascosa has been a valued member of BMW Group Financial Services, NA for three years, having made a significant impact with her strong leadership and contributions.
Established in the U.S. in 1992, BMW Group Financial Services has grown to become a significant player in the automotive financing sector. The Group employs over 900 people, including consultants and service providers, and serves over 1,100,000 automotive lending customers across the U.S.
Birgit Boehm expressed her excitement about McKinney taking over the pre-owned business, a critical component of their operations. Under McKinney's leadership, the Central Region achieved record new vehicle sales in the last two years. Prior to this role, McKinney led sales, marketing, aftersales, and center development functions across the midwestern U.S. market at BMW of North America.
The Group offers a wide range of leasing, retail, and commercial financing and banking products. It also provides financing to BMW dealers for expanding dealership capabilities and enhancing overall operations. BMW Group Financial Services operates a Regional Services Center in Columbus, Ohio, which serves the U.S. and Canadian markets. Many of its employees are based in Columbus.
As of 2021, BMW Group Financial Services finances more than half of the BMWs sold or leased in North America. The Group also operates the MINI Financial Services division, which was established in 2001 to provide support for the brand's dealers and customers.
While detailed information on McKinney's career history prior to joining BMW Group Financial Services North America is not readily available, it is known that he joined the company from BMW of North America, where he was Vice President, Central Region. McKinney assumed leadership of the Central Region in 2020.
McKinney will serve as a member of the BMW Group Financial Services Executive Committee. His appointment marks a significant step in the continued growth and success of BMW Group Financial Services, NA.
In the realm of business, McKinney's transition from his previous role at BMW of North America to the Vice President position in Pre-Owned Cars at BMW Group Financial Services, NA, signifies a notable shift within the automotive industry and finance. Given his successful track record in the central region, particularly in the automotive sector, McKinney is expected to make significant contributions to the Group's critical components, such as the leasing, retail, and commercial financing segments, as well as transportation-related operations.
