NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance today announced the appointment of Michael P. McGonigle as managing director of Trade Accounts Receivable Securitization within its Corporate Lending business. McGonigle will lead a team responsible for providing financing of $75-million or more to corporate borrowers by securitizing trade receivables.
McGonigle has more than 20 years of experience in corporate finance. Most recently he was managing director within GE -- Corporate Lending responsible for providing junior capital debt solutions to clients. Prior to this, he was managing director of GE -- Bank Loans leading a team handling distressed bank debt investing and loan participations. McGonigle joined GE in 1982 and held various roles within the business including loan origination, underwriting and risk management.
"With years of corporate finance experience, Mike and his team are uniquely qualified to help clients gain smarter capital through this alternative source of financing," said Tom Quindlen, President & CEO of GE Corporate Lending. "Borrowers will also benefit from having a single source of asset-based, cash flow and structured finance--including a trade accounts receivable securitization product that's unique to GE."
McGonigle received a Bachelor of Science from Fordham University and a MBA from Fordham's Graduate School of Business. He is based in New York.
Industry Specialization
To better meet the unique financing needs of customers, GE Corporate Lending has a team of Industry Leaders supported by dedicated research analysts. The Industry Leaders work closely with GE Corporate Lending's regional sales force to build customized financing solutions for companies across key industries: Aerospace & Defense; Automotive & Automotive Parts; Chemicals & Plastics; Food, Beverage & Agriculture; Financial & Business Services, General Manufacturing; Paper, Packaging & Forest Products; Steel & Diversified Metals; Technology; and Transportation & Construction. The industry-aligned approach also builds on GE Corporate Lending's experience as a leading provider of financial solutions for the Retail industry and for companies in need of Project, Turnaround and Restructuring Finance.
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, structured finance and other complementary solutions for mid-size and large companies. From over 30 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 $200 billion and is headquartered in Norwalk, 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. 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.
Contacts
GE Corporate Lending, Norwalk
Jeffrey Wilson, 203-229-1887
[email protected]
or
GE Commercial Finance, Norwalk
Ned Reynolds, 203-229-5717
[email protected]
Britta Kons
GE Healthcare Global Services
[email protected]
1-203-400-1892