Pressman Brings Vast Experience within GE to Leadership Position
Stamford, Conn., June 21, 2007 -- GE Real Estate, a leading global resource for commercial real estate capital, announced today that Ronald Pressman has been named President and CEO.
A 27-year GE veteran, Pressman was most recently president and CEO of GE Asset Management, a global investment business with approximately $197 billion in assets under management. Pressman held a variety of key financial roles early in his GE career and over the past 15 years, he has been CEO of a number of global GE businesses, including GE's Central and Eastern European operations, Power Systems (Europe), Real Estate, Employers Reinsurance, and Insurance Solutions. Pressman began his GE career in 1980 after graduating from Hamilton College.
Pressman is a proven industry leader and is highly regarded as a strategic thinker in the commercial finance industry. As a senior vice president of the company, he serves on GE's Corporate Executive Council and has been a member of the GE Capital Board since 2000. He replaces Michael Pralle, who left the company to pursue other interests.
"Ron has made invaluable contributions to GE's success throughout his notable career and his broad-based experience across our company will enable us to achieve our strategic goals in an even more efficient and productive manner," said Michael A. Neal, Vice Chairman. "Our Real Estate division is critically important to our overall business strategy. Ron's deep background in financial services and real estate, coupled with his global experience will be of great value as we continue to grow this business in the US and abroad."
Pressman has also been involved in many civic and educationally oriented activities in his communities. He currently is chairman of the National Board of A Better Chance and director of Pathways to College. While located in Kansas City, Pressman was vice chairman and director of the Board of Directors of the Greater Kansas City Community Foundation and vice chairman and director of the Kansas City Civic Council. During his time in London, he served as a member of the Hamilton College Board of Trustees and chaired Roots and Wings, a UK-based mentoring program.
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About GE Real Estate
GE Real Estate (www.gerealestate.com) is one of the world's premier commercial real estate companies with more than US$59 billion in assets and a presence in 28 countries throughout North America, Europe, Asia, and Australia/New Zealand. Backed by GE's AAA rating, GE Real Estate offers a comprehensive range of capital and investment solutions including equity capital for acquisition or development, as well as fixed and floating rate mortgages for new acquisitions or re-capitalizations of commercial real estate. With a 28% compound annual growth rate since 1993, GE Real Estate is one of the world's fastest growing and most profitable real estate enterprises. This extraordinary record of success grows out of a reputation for collaboration and partnership; a depth of knowledge and experience and a history of building relationships, finding opportunities and opening doors for more than 5,000 owners, builders, borrowers and brokers worldwide.
GE Commercial Finance (www.gecommercialfinance.com) offers businesses around the globe an extensive array of financial products and services. With more than US$246 billion in assets and expertise in the middle-market, GE Commercial Finance provides loans, operating leases, financing programs and innovative structured capital to help customers grow. Headquartered in Norwalk, Connecticut, GE Commercial Finance is a wholly owned subsidiary of the General Electric Company (NYSE:GE), a diversified services, technology and manufacturing company with operations worldwide.
Contacts:
GE Real Estate
Brent Feigenbaum
212/716-8929
[email protected]
HLB Communications, Inc.
Pamela Flores
312/649-0371
[email protected]