NORWALK, Conn.--(BUSINESS WIRE)--April 19, 2006--GE Commercial Finance today announced the expansion of its Corporate Lending business, providing middle market and larger corporate customers a broader suite of financial solutions. As part of today's announcement, the company formally introduced Tom Quindlen as President and CEO and Jim Kelly as General Manager of North America.
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 touchpoint for customers while unlocking deeper value in each engagement. Supported by a research-driven 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.
Tom Quindlen will lead the expanded Corporate Lending business and brings more than 20 years of experience in senior sales and commercial excellence roles across GE. Tom is a GE Officer and previously served as Commercial Leader for GE Capital Solutions and President and CEO of GE Franchise Finance.
"Growth for the benefit of our customers is the key here," said Quindlen. "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."
Smarter Capital for Business
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.
The GE Capital Markets team ranked #9 in volume and #4 in lead arranged transactions, and #2 for second lien transactions in Reuters/LPC's 2005 Leveraged League tables, and includes a dedicated Corporate Lending team led by Jennifer VanBelle, managing director.
Corporate Lending's Restructuring Finance team, led by managing directors Frank Galle and Rob McMahon, will continue its focus on financing corporate turnarounds and restructurings. In 2005, this team was again among the leaders in debtor-in-possession financings, and in 1Q 2006 completed $2.3Bn in new DIP and other restructuring transactions.
Industry Specialization
Launched earlier this year, Corporate Lending is using a research-driven industry approach designed to deliver solutions tailored to the unique capital 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 team brings more than 175 years of related experience, many former CFOs and operational managers within their target markets.
The industry-aligned approach also builds on Corporate Lending's experience as a leading provider of financial solutions for the Retail industry. Jim Hogan, managing director, will continue to lead Corporate Lending's Retail Finance efforts, supported by a dedicated team of retail sales and risk specialists.
Enhanced Regional Focus
An expanded regional coverage model includes six regions across North America: Northeast, New York City Intermediaries, South, Midwest, West and Canada. Leading the regional teams is Jim Kelly, General Manager for North America. In this role, Kelly will oversee all front-end activities in North America.
Reporting to Kelly are six Region Managers responsible for driving growth in their territory: Randy Hicks in Norwalk, Conn.; Al Spada in New York City, Bob Biringer in Atlanta, Paul Feehan in Chicago, Andrew Waterson in Los Angeles and Ellis Gaston in Toronto.
Background for Tom Quindlen
Quindlen graduated from Villanova and began his professional career with GE through the Financial Management Program in 1985. Upon completion, Quindlen held various financial management roles in GE Aerospace. He moved to GE Capital's Vendor Financial Services in 1992, where he held roles in Marketing, Business Development and Sales. Quindlen joined GE European Equipment Finance in London as Director of Business Development and Marketing in 1996. After serving as Executive Vice President of Sales and Marketing at GE Japan Leasing, he was appointed president and CEO of GE Franchise Finance in 2002. He was most recently Commercial Leader for GE Capital Solutions.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $190 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 customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's website at ge.com.
Britta Kons
GE Healthcare Global Services
[email protected]
1-203-400-1892