TORONTO--(BUSINESS WIRE)--July 27, 2006--GE Commercial Finance today announced new leadership in Canada for its North American Corporate Lending business providing customers an expanded and smarter suite of financial solutions, delivered locally and tailored to the lifecycle needs of their business.
Ellis Gaston will lead GE Corporate Lending in Canada bringing extensive experience with senior secured debt instruments including more than 4 years of sales and credit leadership roles at GE and more than 15 years serving borrowers in Canada. GE Corporate Lending has provided nearly $1 billion of committed lines of credit in Canada through the first half of this year.
By combining its long-standing asset-based lending, cash flow lending and structured finance platforms under the Corporate Lending umbrella, GE Commercial Finance is creating a single touch-point for customers while unlocking deeper value in each engagement. Supported by a research-based approach to build customized solutions industry-by-industry, Corporate Lending is uniquely positioned to support the entire customer lifecycle, from growth capital and mergers & acquisitions to corporate restructurings, where the company is a leading provider of Debtor-in-Possession (DIP) financing.
"Growth for the benefit of our customers is the key here," said Tom Quindlen, President and CEO, Corporate Lending. "The expanded capabilities will allow us to build more meaningful and longer-term customer relationships. Whether it's today, next year or five years from now, our goal is to be a lender for all seasons, one that helps customers grow in every business cycle."
Added Gaston, "We look forward to providing borrowers in Canada with smarter capital through a whole suite of financial solutions and unparalleled expertise in nine targeted industries."
Smarter Capital for Businesses
With $15 billion in served assets and 400+ professionals across 40 locations in North America, Corporate Lending has expanded its offering for companies that are growing, maturing and restructuring. Complimenting its strength in asset-based and cash flow lending, the company now provides structured leasing, tax-advantaged financing, securitization, project financing, junior secured and second lien loans, equity capital and interest rate management.
Industry Specialization
Corporate Lending is using an industry-specific marketing approach, launched earlier this year, to better tailor solutions to the unique requirements of customers.
The initiative is led by Craig Reynolds, senior managing director, and includes a team of Industry Leaders supported by dedicated research analysts. The Industry Leaders partner closely with Corporate Lending's regional sales force to build customized solutions across nine key industries: Aerospace & Defense; Automotive & Automotive Parts; Chemicals & Plastics; Food, Beverage & Agriculture; Financial & Business Services, General Manufacturing; Paper, Packaging & Forest Products; Steel & Diversified Metals; and Transportation & Construction. The industry-aligned approach also builds on Corporate Lending's experience as a leading provider of financial solutions for the Retail industry and for companies in need of Turnaround and Restructuring Finance.
"The new Corporate Lending Group is re-energized for growth," Quindlen added. "The combination of our new leadership team including Ellis in Canada, and deep industry acumen will help to bring even greater value to customers. Not only will our team provide the best in asset-based, cash-flow and structured finance, but we will also offer our clients all the resources that GE has to offer."
Background for Ellis Gaston
Gaston has more than 15 years of experience providing mid-size and large companies in Canada and the US with senior secured financing solutions. Gaston joined GE in 2003 as Vice President of Underwriting, and in 2004 was promoted to Senior Vice President and Team Leader. In 2005 Gaston assumed the role of Chief Risk Officer for GE Corporate Lending, Canada. In early 2006, he became the managing director for Canada responsible for all loan origination and underwriting from offices in Toronto, Montreal and Vancouver. Gaston received his Bachelors of Commerce from the University of Toronto and his MBA from Wilfred Laurier University.
About GE Corporate Lending
With $15 billion in assets, GE Commercial Finance Corporate Lending is one of North America's largest providers of asset-based, cash flow and structured finance solutions for mid-size and large companies. From over 40 offices throughout the U.S. and Canada, Corporate Lending specializes in serving the unique needs of borrowers seeking $10 million to $1 billion and more for working capital, growth, acquisitions, project finance and turnarounds. Visit gelending.com for more information.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $232 billion and is headquartered in Stamford, Connecticut. 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 customer in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's website at ge.com.
Contacts
GE Commercial Finance, Norwalk
Ned Reynolds, 203-229-5717
[email protected]
or
GE Corporate Lending, Norwalk
Jeffrey Wilson, 203-229-1887
[email protected]
or
CJP Communications
Vu Chung, 212-279-3115, ext. 1205
[email protected]
Britta Kons
GE Healthcare Global Services
[email protected]
1-203-400-1892