Norwalk, Connecticut-based GE Real Estate has promoted Mark Hutchinson to president of the newly created GE Real Estate International, covering operations in Europe and Asia.
Hutchinson has been serving as president of GE Real Estate Asia-Pacific since 2005. Before this he was the leader of GE‘s capital markets team from 2002-2005, where his projects included 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.
The new unit 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.
“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,” said GE Real Estate president Ron Pressman in a statement.