General Motors Financial Co. hired Vincent Woffenden to oversee commercial operations in Canada. Woffenden started today as vice president of Canada commercial servicing. He reports to Brian Fallon, senior vice president of the captive’s Commercial Lending Services unit.

For the past three years, Woffenden worked at Bank of Montreal, as a director and account manager of dealership finance, according to his LinkedIn profile. Previously, he spent more than a decade at Chrysler…

With six weeks to go before the launch of its Commercial Lending Services business, General Motors Financial has set some clear goals for the unit.

“It’s a de novo business, so it’ll progress slowly,” said GM Financial President and Chief Executive Dan Berce on a conference call with investors this morning. The ballpark estimate is 20% to 25% marketshare in two or three years ― a $5 billion-type number. “That’s something we’d like to shoot for,” he added.

GM’s commercial…