OneMain Financial is a leading financial services company that provides personal loans, auto loans, and other financial products to non-prime borrowers. The company was founded in 1912 and is headquartered in Wilmington, Delaware. OneMain has a network of over 1,500 branches in 44 states. In addition to its branch network, OneMain also offers online and mobile banking services. The company’s primary focus is on providing loans to borrowers with less-than-perfect credit. OneMain’s loans typically have higher interest rates than loans from traditional banks, but they offer a convenient and accessible way for non-prime borrowers to obtain financing.
OneMain Financial’s Ownership Structure
OneMain Financial is a publicly traded company, meaning that its shares are owned by many different investors. The company’s largest shareholder is the private equity firm Warburg Pincus, which owns approximately 25% of the company’s outstanding shares. Other major shareholders include:
- The Vanguard Group, Inc.
- BlackRock Fund Advisors
- State Street Global Advisors, Inc.
- The Northern Trust Company
OneMain Financial’s ownership structure is complex and involves a number of different entities, including holding companies, subsidiaries, and joint ventures. The following table provides a simplified overview of the company’s ownership structure:
| Entity | Ownership Stake |
|---|---|
| Warburg Pincus | 25% |
| Vanguard Group, Inc. | 10% |
| BlackRock Fund Advisors | 5% |
| State Street Global Advisors, Inc. | 3% |
| The Northern Trust Company | 2% |
| Public Float | 55% |
OneMain Financial’s Ownership Evolution
OneMain Financial, a prominent installment loan provider, has experienced several ownership changes throughout its history. Understanding these changes sheds light on the company’s strategic direction and market position.
Historical Ownership Changes
- 1912: Founded as Household Finance Corporation.
- 1985: Acquired by Beneficial Corporation.
- 1998: Beneficial Corporation merged with Household International.
- 2002: Household International acquired by HSBC.
- 2015: HSBC spun off OneMain Financial as a separate company.
- 2019: The Blackstone Group acquired a 49% stake in OneMain Financial.
- 2021: The Blackstone Group acquired the remaining 51% stake, making OneMain Financial a wholly-owned subsidiary.
The table below summarizes the ownership timeline:
| Year | Owner |
|---|---|
| 1912-1985 | Household Finance Corporation |
| 1985-1998 | Beneficial Corporation |
| 1998-2002 | Household International |
| 2002-2015 | HSBC |
| 2015-2019 | Standalone company |
| 2019-2021 | OneMain Financial (49% Blackstone Group, 51% HSBC) |
| 2021-Present | OneMain Financial (100% Blackstone Group) |
These ownership changes reflect OneMain Financial’s evolving strategic priorities and market dynamics. The most recent acquisition by Blackstone Group signals continued interest in the consumer lending sector and a commitment to OneMain Financial’s growth and innovation.
Institutional Investors in OneMain Financial
OneMain Financial is a publicly traded company, meaning that its ownership is distributed among many investors. As of March 31, 2023, the largest institutional investors in OneMain Financial were:
- The Vanguard Group, Inc. (9.52%)
- BlackRock Fund Advisors (8.16%)
- JPMorgan Chase & Co. (4.19%)
- SSgA Funds Management, Inc. (3.95%)
- Geode Capital Management LLC (3.27%)
These institutional investors collectively own over 29% of OneMain Financial’s outstanding shares. This means that they have a significant voice in the company’s governance and decision-making.
In addition to these institutional investors, OneMain Financial also has a number of individual investors. As of March 31, 2023, there were approximately 140,000 individual shareholders of OneMain Financial. These individual shareholders collectively own approximately 71% of the company’s outstanding shares.
Key Executives and Management of OneMain Financial
OneMain Financial is a leading personal finance company that provides a range of financial products and services to individuals and small businesses. Here are the key executives and management responsible for leading the company’s operations:
- Doug Shulman, President and CEO
- John Flynn, Chief Financial Officer
- David Zafirides, Chief Operating Officer
- Mark Horan, Chief Credit Officer
- Ann Marie嶋Scurria, Chief Marketing Officer
Together with the Board of Directors, these executives oversee the company’s strategy, growth initiatives, and day-to-day operations.
Executive Overview
| Name | Title |
|---|---|
| Doug Shulman | President and CEO |
| John Flynn | Chief Financial Officer |
| David Zafirides | Chief Operating Officer |
| Mark Horan | Chief Credit Officer |
| Ann Marie Scurria | Chief Marketing Officer |