GE Capital
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| Subsidiary | |
| Industry | Financial services |
| Headquarters | Norwalk, Connecticut, United States |
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Area served
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Worldwide |
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Key people
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Richard Laxer (Chairman and CEO) |
| Parent | General Electric |
| Divisions |
GE Capital Aviation Services GE Energy Financial Services GE Industrial Finance GE Commercial Finance |
| Website | www |
GE Capital is the financial services unit of the American multinational conglomerate General Electric. It provides commercial lending and leasing, as well as a range of financial services for commercial aviation, energy, and support for GE's industrial business units.
In April 2015, GE announced its plan to create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets while continuing its investment and growth in its world-class industrial businesses. Since that time, the GE Capital team has made strong progress toward redefining the company and focusing on its financing verticals that directly support GE.
GE Capital’s verticals are now aligned to drive growth in GE’s core industrial businesses – GE Capital Aviation Services (GECAS), Energy Financial Services (EFS) and GE Industrial Finance, which will include the Healthcare Equipment Finance business, Working Capital Solutions (WCS), and other financing activities to develop lending and leasing products for the GE Store. One financing center of excellence that serves the entire GE system, GE Treasury, and several specialty insurance platforms, are also a part of the "new" GE Capital.
GE Capital Aviation Services is a key financial partner to more than 245 customers in 75 countries, providing aircraft leasing, financing, services and consulting in every sector of the industry. GE Energy Financial Services provides world-class underwriting capabilities for Power, Renewables, and Oil+Gas infrastructure to meet rising demand and sustainability imperatives. And GE Capital's new Industrial Finance organization serves customers in Healthcare, Transportation, Distributed Power, Marine industries and Municipalities around the world.
On July 8, 2013, the Financial Stability Oversight Council designated GE Capital as a "systemically important financial institution", which makes it subject to oversight by the Federal Reserve.
As of 2014, GE Capital had 35,000+ employees worldwide, operating in more than 40 countries, with total assets of US$499 billion. It was rated AA+ with stable outlook by S&P in 2012.
GE Capital's subsidiaries also operate under the GE Money brand.
On April 10, 2015, Jeffrey R. Immelt, the CEO of General Electric, announced that GE would sell most of GE Capital over the next two years.
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Wikipedia