GE 2014 Annual Report Download - page 72

52 GE 2014 FORM 10-K
MD&A SEGMENT OPERATIONS | GE CAPITAL
GE CAPITAL
BUSINESS OVERVIEW
Leader: Keith Sherin Headquarters & Operations
x Vice Chairman GE, and Chairman &
CEO, GE Capital
x Over 30 years of service with
General Electric
x 28% of segment revenues in 2014
x Headquarters: Norwalk, CT
x Serving customers in 70+ countries
x Employees: approximately 47,000
Products & Services
GE Capital businesses offer a broad range of financial services and products worldwide for businesses of all sizes. Services
include commercial loans and leases, fleet management, financial programs, credit cards, personal loans and other financial
services. GE Capital also develops strategic partnerships and joint ventures that utilize GE’s industry-specific expertise in
aviation, energy, infrastructure and healthcare to capitalize on market-specific opportunities. Products and services are
offered throu
g
h the followin
g
businesses:
x Commercial Lending and Leasing (CLL) – has particular mid-market expertise, and primarily offers secured commercial
loans, equipment financing and other financial services to companies across a wide range of industries including
construction, retail, manufacturing, transportation, media, communications, technology and healthcare. Equipment
financing activities include industrial, medical, fleet vehicles, construction, office imaging and many other equipment types.
x Consumer ± offers a full range of financial products including private-label credit cards; personal loans; bank cards; auto
loans and leases; mortgages; debt consolidation; home equity loans; deposit and other savings products; and small and
medium enterprise lending on a global basis.
x Real Estate – offers a range of capital and investment solutions, including fixed and floating rate mortgages for new
acquisitions or re-capitalizations of commercial real estate worldwide. Our business finances with loan structures; the
acquisition, refinancing and renovation of office buildings, apartment buildings, retail facilities, hotels, warehouses and
industrial properties.
x Energy Financial Services – invests in long-lived, capital intensive energy projects and companies by providing
structured equity, debt, leasing, partnership financing, project finance and broad-based commercial finance.
x GE Capital Aviation Services (GECAS) ± our commercial aircraft financing and leasing business, offers a wide range of
aircraft types and financing options, including operating leases and secured debt financing, and also provides productivity
solutions including spare engine leasing, airport and airline consulting services, and spare parts financing and
management.
Competition & Regulation
The businesses in which we engage are subject to competition from various types of financial institutions, including
commercial banks, thrifts, investment banks, broker-dealers, credit unions, leasing companies, consumer loan companies,
independent finance companies, finance companies associated with manufacturers and insurance and reinsurance
companies.
GECC is a regulated savings and loan holding company under U.S. law, subject to Federal Reserve Board (FRB) supervision.
In 2013, the U.S. Financial Stability Oversight Council (FSOC) designated GECC as a nonbank systemically important
financial institution (nonbank SIFI) under the Dodd-Frank Wall Street Reform and Consumer Protection Act (See Regulations
and Supervision for additional information).