Steve Sargent Named President and CEO of GE Capital Asia Pacific

Business Wire

posted: 6 HOURS 29 MINUTES AGO

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GE Capital, the financial services segment of the General Electric Company (NYSE:GE), today announced the appointment of Steve Sargent as president and CEO of GE Capital’s business operations in Asia Pacific.

Sargent, 49, will oversee operations for GE Capital in Asia Pacific, which is headquartered in Tokyo, Japan. He is taking over the role formerly served by John Flannery, who has been promoted to run GE’s operations in India.

Sargent is a 16-year GE veteran with over 30 years of global financial services experience. Currently he is serving as president and CEO of GE for Australia and New Zealand (ANZ) and president and CEO of GE Capital for Australia and New Zealand. Sargent will continue heading GE Capital ANZ until a replacement is named and will remain national executive for GE ANZ along with his new Asia Pacific role.

“Steve is an ideal match for this position,” Mike Neal, GE vice chairman and GE Capital president and CEO, said. “He knows the industry, region and GE Capital equally well. Throughout his career, Steve has developed strong customer relationships, built talented teams and found innovative ways to grow the business. In a very challenging 2008, he lead our GE Capital ANZ team to grow earnings double digits while reducing costs. He will bring this operational excellence to Asia Pacific, an important market for us. The fact that we have someone of Steve’s caliber ready to take on this new challenge is a testament to GE’s leadership development.”

Prior to his current role, Sargent held a number of senior finance, sales and quality positions in GE Capital, including president and CEO of GE European Equipment Finance from 2000 to 2003. He is a graduate of Charles Sturt University in Australia.

About GE Capital

GE Capital offers consumers and businesses around the globe an array of financial products and services. 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. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews).

About GE

GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, medical imaging, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com .