London, 7 September 2010: James Fenner has been named as the new President and CEO for GE Capital's Leveraged Finance business*, effective immediately, subject to regulatory approval. Fenner will be responsible for consolidating GE Capital's position as one of the top Leveraged Finance players in Europe, leading and arranging mid market transactions and building close links with commercial partners such as Mubadala GE Capital. He replaces Thomas Greco, who has left to pursue opportunities outside of GE. The position reports into Rich Laxer, EMEA President and CEO for GE
GE Capital to underwrite working capital facilities on a sole lead basis
GE Capital, the financial arm of GE, has underwritten $500 million of European factoring and US ABL facilities to support the future working capital requirements of Alcan Engineered Products ("AEP"), a leading global aluminium products manufacturer. The financing supports the new joint venture company to be created by Apollo Management LP ("Apollo"), Fonds Stratégique d'Investissement's ("FSI") and AEP's current owner Rio Tinto plc.