GE Capital is one of four major units of General Electric,[1] On 27 July, 2008, General Electric announced that GE capital is once again a single unit of GE. GE Capital is comprised of five sub-units: GE Aviation Financial Services, GE Commercial Finance, GE Energy Financial Services, GE Money (merged with GE Consumer Finance), and GE Treasury.
At one time, GE Capital was the financial services unit of General Electric and was headed by a single person. The unit, later split into four divisions, and was responsible for a large portion of GE revenue. Each of the businesses that was a part of GE Capital were are run independently and rolled up only to the Chairman of GE, Jeff Immelt. Other businesses formerly considered to be a part of GE Capital, such as Healthcare Finance, Railcar Finance, etc. were incorporated into the corresponding Industrial Businesses as support functions.
References
- ^ GE restructures to streamline businesses - Forbes.com
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