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Ex-investment banker takes charge of $20bn GE arm

A former investment banker has been named as the new chief financial officer of GE Commercial Finance in Europe, a unit within General Electric with $20bn (€15.6bn) in assets.

Peter Franklin, who worked at HSBC and Chase Manhattan before joining the US conglomerate in 1992, will be finance director for a division with 2,000 employees and has funded close to $11bn in transactions in Europe since it was established in 2004.

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