Stamford, CT -- June 21, 2007 -- General Electric Company (NYSE:GE) today announced that Jay Ireland has been named president and CEO of GE Asset Management Incorporated (GEAM).
In this role, he will become a member of GE's Corporate Executive Council and the GE Capital Board of Directors. Ireland succeeds Ronald Pressman, who has been named president and CEO of GE Real Estate.
"Jay has a proven ability to build and lead world-class teams and drive success across organizations," said Keith Sherin, GE senior vice president and chief financial officer. "He brings a diverse set of accomplishments to his new role, including senior positions at NBC Universal and GE's Corporate Investor Communications, as well as senior financial leadership roles. Jay is an excellent choice to oversee the management of assets for GEAM's growing client base and the retirement portfolios of our employees."
Ireland has been with GE for 27 years. After graduating from St. Lawrence University and serving as a U.S. Army officer, he joined GE's Corporate Audit Staff in 1980. He held several financial and product management leadership positions at GE Plastics in the US and Europe and led GE's Investor Communications and Corporate Audit Staff. Ireland was named CFO of GE Plastics in 1997 and became president of NBC Television Stations in 1999. He was promoted to president of NBC Universal Television Stations and Network Operations in December 2006.
GEAM is a global asset manager wholly owned by General Electric Company, a diversified technology, media and financial services company focused on solving some of the world's toughest problems. Built on a 75-year heritage of investment experience, GEAM today manages $197 billion (as of March 31, 2007) for a wide variety of clients around the world. Investment strategies are offered across all major asset classes, including U.S. and international equities, fixed income, and alternative assets.
GE Investment Distributors, Inc., Member NASD & SIPC, is a wholly owned subsidiary of GE Asset Management Incorporated.
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For further information, contact:
Chris Linehan
GE Asset Management
(203) 708-3193