GT Capital Holdings Incorporated has recently announced that they have appointed a new chairman for their auto dealership business.

In a press statement, GT Capital Holdings has appointed Mr. Vince Socco as the chairman of GT Capital Auto Dealership Holdings, Inc. (GTCAD), a wholly-owned subsidiary of GT Capital.

The position means Socco would effectively oversee the five Toyota dealerships under GT Capital such as Manila Bay, Cubao, Marikina, Dasmarinas and Subic.

Vince Socco is a longtime veteran of the Toyota and Lexus brands, starting with the Toyota liason office before the start of operations for Toyota Motor Philippines Corporation in 1988. Socco worked his way up the Toyota ladder and became senior vice president (SVP) for Marketing of TMP. In 2007, he was made SVP for Lexus Asia and was also appointed to Toyota's regional office: Toyota Motor Asia Pacific (TMAP).

Socco then became the general manager of TMAP in 2014, reporting directly to Toyota Motor Corporation in Japan. Socco retired last month from his position at TMAP, freeing him up to lead GTCAD.

GT Capital is a conglomerate that has business interests in major corporations such as the Metropolitan Bank & Trust Company (Metrobank), real estate firm Federal Land, tollway operator Metro Pacific, and Philippine AXA Life Insurance Corporation. The publicly-listed company is also the Philippine partner behind the country's number one automaker, Toyota Motor Philippines Corporation, as well as other business interests such as Toyota Financial Services, Toyota Manila Bay Corporation, among others.