Ally Corporate Finance, a unit of Ally Financial that provides senior secured commercial lending products to primarily U.S.-based, middle-market companies, named Jim Babcock managing director and head of Healthcare Underwriting, effective immediately. Babcock will be based in Ally’s New York office and report to Tom Ceto, head of Healthcare Finance for Ally Corporate Finance.

“Ally Corporate Finance has established a strong presence in the middle market healthcare sector by consistently offering our sponsor clients creative financial solutions,” Ceto said. “We’re excited to have Jim join us as we continue to expand our healthcare lending platform.”

Prior to joining Ally, Babcock had been involved in all aspects of lending, including underwriting, portfolio management and new business origination for more than 30 years, more than 10 of which were spent focused in the healthcare sector.

Babcock received a bachelor’s degree in business from Wittenberg University and a master’s degree in business administration from the Graziadio School of Business at Pepperdine University.