SOURCE: GE Real Estate

August 07, 2008 03:00 ET

GE Real Estate Promotes Mark Hutchinson to President of Newly Created GE Real Estate International Business Unit

NORWALK, CT--(Marketwire - August 7, 2008) - GE Real Estate, a leading global resource for commercial real estate capital, announced today that Mark Hutchinson has been promoted to president of the newly created GE Real Estate International, covering operations in Europe and Asia.

Hutchinson has broad experience as a global business leader, most recently as president of GE Real Estate Asia-Pacific, since 2005. As leader of GE's capital markets team from 2002-2005, he played a key role in numerous complex transactions in North America, Europe and the Pacific Rim. His accomplishments include building a pan-European capital markets team and spearheading the financing of key energy-related construction projects in China and Indonesia. Hutchinson joined GE Capital in 1994.

"Mark's considerable expertise in building business teams and orchestrating development projects around the world will be invaluable as we sharpen the configuration of our diverse global operations," said Ron Pressman, president and CEO of GE Real Estate. "The creation of a new international team with P&L responsibilities will improve our efficiency and provide added clarity in a dynamic environment with attractive growth opportunities."

Hutchinson and his team will be responsible for debt and equity originations, asset management and net income performance.

The organizational changes include the formation of an International Debt Center of Excellence that will facilitate origination and asset management of debt portfolios and share best practices across the platforms.

"We will leverage the outstanding Center of Excellence infrastructure currently in place in both Europe and Asia to support operations for our first-class GE Real Estate International functional team," said Pressman. "These changes further accelerate our efforts to build an investment management organization while creating a large and more profitable debt platform."

Notes to editors:

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$87 billion in assets and a presence in 31 markets 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 (NYSE: GE) is a diversified services, technology and manufacturing company with operations worldwide.

Contact Information

  • GE Real Estate Contact:
    John Oliver
    203/750-3089
    john.oliver @ge.com

    HLB Communications, Inc.
    Richard Ringer
    312/649-0371
    Email Contact

    Financial Dynamics, London
    Stephanie Highett/Dido Laurimore/Jamie Robertson
    Tel: +44 (0)20 7831 3113