To steer the growth of GE's commercial finance business as it seeks to substantially grow its portfolio in India
New Delhi, July 24, 2006 - Tejpreet Singh Chopra has been appointed President & CEO of GE Commercial Finance India. A ten-year GE veteran, Chopra brings considerable management and global finance experience to his new post, which he assumed in May 2006.
Most recently, Chopra was Senior Vice-President and Country Head - India for GE Commercial Aviation Services (GECAS), the commercial aircraft leasing and financing unit of GE. In 2005, he moved from the unit's headquarters in Stamford, Connecticut, USA, to open a GECAS office in Delhi and has since arranged more than $1 billion in financing for India's growing airline industry.
Tejpreet said, "These are exciting times for the GE Commercial Finance business in India. The target for GE in India is to achieve US$8 billion in revenues and US$8 billion in assets by 2010 and GE Commercial Finance will play a vital role in helping GE accomplish that goal." He added, "We are very bullish about India's financial services sector and we will actively consider targeted investments to grow the commercial finance business. Real Estate, Construction, Transportation, Infrastructure, Healthcare, Energy and Information Technology are all high-growth sectors and key focus areas for GE Commercial Finance."
Since joining GE in 1996, Chopra has held positions in marketing, structured finance and risk management, at both Stamford and Hong Kong at GECAS. He also managed global sales for the regional jet program at GECAS. He is an Economics graduate from St. Stephen's College, Delhi and an MBA from Cornell University.
GE Commercial Finance India (GECF India) is one of India's leading non-banking financial companies. GE's AAA credit rating enables it to offer customers reliable, well capitalized, competitively priced financing programs and products. GECF India has over 15,000 customers and has a pan-India presence covering all key locations. It provides end-to-end financial solutions to meet the diverse needs of its customers through a wide range of financial products and services including Corporate Finance, Commercial & Industrial Finance, Real Estate Finance, Infrastructure Finance, Commercial and Corporate Aircraft Finance and Leasing, Commercial Vehicle Finance, Healthcare Finance, Energy Finance, Construction Equipment Finance, Capital Market Services, Sponsor Finance, Commercial Distribution Finance and Asset Management & Syndication. GECF India combines its understanding of the Indian market and GE's global product range to provide its customers unique solutions.
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 Web site at www.ge.com
Purnima SahniMohanty
GE Corporate Manager - Communications
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