GE Money appoints president and CEO

8th February 2008
By Staff Writer

GE Money has appointed William Cary to the position of president and CEO of the company effective immediately. He will report directly to Jeffrey Immelt, chairman and CEO of the company.

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Mr Cary succeeds David Nissen, who is retiring from the company. Mr Cary has served as president and CEO of GE Money Europe, Middle East and Africa, since February 2006. He is a senior vice president of GE. Nissen has been with GE for 27 years and has led GE's consumer finance business since 1993. He helped build GE Money into one of the largest providers of consumer financial services in the world.

Mr Immelt said: "Dave is a great GE leader. He helped create GE's first truly global business, leading the company's entry into many emerging markets. Dave's strategic mind and steady and effective leadership have been great assets to GE and I am happy that he will remain at GE in the near term to assist us in this transition."

"As the leader of GE Money's business outside the US, Mr Cary has shown a great eye for growth, business discipline and strong leadership. Given his experience in global markets, and his strong financial expertise and experience, Mr Cary is the perfect GE leader to drive change and growth at GE Money."

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