GE Capital Combines UK Operations
UNITED KINGDOM - GE Capital announced it is reorganizing its UK business to help both mid-market and corporate customers with their growth, restructuring, and productivity challenges, according to Banking Business Review.
Reportedly, the new-look business, in place by mid-September, will be organized to focus on the needs of four main groups of customers. They are mid-market businesses turning over between £5 and £100 million, corporate businesses turning over more than £100 million, corporate fleet managers, and corporate businesses.
In addition to these areas of focus, GE Capital in the UK will also continue to operate in some important specific niches including aircraft leasing, healthcare financial services, and commercial distribution finance. Moreover, these services will be marketed and supported by separate sales and account management teams.
"By providing a single point of contact for mid-market and corporate businesses, customers can quickly access the full breadth of solutions from GE Capital, and receive unrivalled asset and industry expertise to help structure deals," said John Jenkins, CEO for GE Capital in UK.
"We believe that the alternative funding sector, led in part by GE Capital, will provide additional liquidity to businesses and will play an essential part in driving the recovery as some banks retrench to their core business," he added.