NEW DELHI, May 13, 2009: GE Capital announced today that Anish Shah has been named President and Chief Executive Officer of GE Capital in India, effective immediately. Anish will lead all of GE Capital's consumer and commercial financial services in India, including strategic partnerships such as SBI Card.
Anish rejoins GE Capital from Bank of America where he led their Debit Products business in the United States. He has worked extensively in the US and in India during his career. Prior to Bank of America, Anish held several leadership positions with GE Capital, including Director, Global Mortgage, and Senior Vice President, Marketing and Product Development at GE Mortgage Insurance. Anish has also held several key assignments with Bain & Company and Citibank.
"With more than 17 years of experience in the financial services industry, both in India and overseas, Anish is the right leader to guide our financial services business in India," said John Flannery, President and CEO of GE Capital, Asia Pacific. "India is an extremely important market for GE and we remain committed to playing an active role in India's financial services sector moving forward."
"India presents immense opportunities for GE Capital," said Anish Shah, President & CEO, GE Capital India. "I am excited about coming back to work with GE Capital in India."
Anish Shah holds a PhD. in Accounting and Corporate Finance from Carnegie Mellon's Tepper School of Business and an MBA in Finance and Strategy from the Indian Institute of Management, Ahmedabad.
GE Capital has been operating in India since 1993 and is one of the leading non-banking financial operations in India. GE Capital combines local understanding with the global reach of GE to provide end-to-end financial solutions to meet the diverse needs of Indian corporate and retail customers through a wide range of financial products and services. GE Capital's businesses in India are organized under various business units including those focused on corporate finance, asset-based lending, leasing, commercial distribution financing, energy and infrastructure projects financing, merger & acquisition financing, mortgages, loans and credit cards (through a ten-year-old strategic joint venture with State Bank of India).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For over 1 million businesses, it provides real estate, equipment and inventory financing; fleet services; working capital; and funds for corporate acquisitions, refinancings and restructurings. For its 130 million consumer customers, GE Capital offers credit cards, retail sales finance programs, home, car and personal loans and credit insurance.
GE (NYSE:GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's web site at www.ge.com.
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