Ally Financial Selects Four Banks to Lead IPO

Ally Financial, the auto and mortgage lender majority-owned by the U.S. government, has selected Citigroup (C), Goldman Sachs (GS), JPMorgan Chase (JPM) and Morgan Stanley (MS) to lead a planned initial public offering, according to sources familiar with the situation. Ally, formerly known as GMAC, said previously it planned an IPO this year, and sources [...]