OneMain Financial

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OneMain Financial
Public
Traded as NYSEOMF
Russell 1000 Component
Industry Financial Services
Founded 1912 (1912)
Headquarters Evansville, IN
Key people
Jay Levine
Douglas Shulman
Products Loans
Number of employees
10,000
Website www.onemainfinancial.com

OneMain Financial is a large provider of personal installment loans in the United States. As of January 2017, the company has served over 10 million total customers and has a nationwide branch network with more than 1,700 branches across 44 states.[1] OneMain is headquartered in Evansville, Indiana, and has more than 10,000 employees.[2]

In March 2015, Springleaf Holdings, Inc. announced plans to acquire OneMain Financial from Citigroup for $4.25 billion. The acquisition was completed in November 2015 and the new company kept the name OneMain Financial.[3] OneMain is currently traded on the NYSE under the ticker symbol “OMF” and is led by CEO Doug Shulman.[4]

History[edit]

In 1912, OneMain Financial was founded by commercial credit in Baltimore, Maryland to provide working capital to manufacturers and building contractors. After several acquisitions, the company became a part of Citicorp in 1998 and in 2011 the name was changed to OneMain Financial.[citation needed]

In 1920, Interstate Finance Corporation was founded in Evansville, Indiana to underwrite sales of Inland Motor Truck vehicles. After several acquisitions, the company became a part of AIG Group in 2001 and was later purchased by Fortress Investment Group in 2010. In 2011, the name was changed to Springleaf Financial Services, and in 2015, the company took the OneMain Financial name after the acquisition of OneMain from Citi.[5]

In order to complete the acquisition of OneMain, the United States Department of Justice required the company to sell 127 branches and certain related assets to Lendmark Financial Services, LLC.[6] The sale was completed in May 2016. The brand migration from Springleaf Financial to OneMain Financial was completed in October 2016.

References[edit]

  1. ^ "2017 Annual Report" (PDF). OneMain Financial. Retrieved July 11, 2018.
  2. ^ OneMain Holdings, Inc. (NYSE: OMF) J.P. Morgan FinTech & Specialty Finance Forum November 30, 2016 (PDF), November 30, 2016, retrieved January 17, 2017.
  3. ^ Springleaf Financial to Acquire OneMain Financial, March 3, 2015, retrieved January 17, 2017.
  4. ^ Executives, retrieved October 2, 2018.
  5. ^ About Us, retrieved January 17, 2017
  6. ^ Justice Department Requires Springleaf to Divest 127 Branches in 11 States in Order to Complete Acquisition of OneMain Financial, November 13, 2015, retrieved January 17, 2017

External links[edit]