GE Capital, the financial services segment of General Electric Company, has appointed Steve Sargent as president and chief executive officer of GE Capital's business operations in Asia-Pacific.
Sargent will oversee operations for GE Capital in the region from its headquarters in Tokyo. He takes over from John Flannery, who has been appointed to run GE's operations in India.
Sargent joined GE in 1993. He is currently president and CEO of both GE and GE Capital for Australia and New Zealand (ANZ). Sargent will continue to head GE Capital for ANZ until a replacement is named and will remain national executive for GE ANZ alongside his new Asia-Pacific role.
During his 16-year career with GE, Sargent has worked across the firm's offices in New York and London.
GE chairman and CEO Jeff Immelt announced the appointment of John Flannery as president and CEO of GE's business operations in India in October. Flannery was also promoted to senior vice-president of GE.
In his new role, Flannery will oversee GE's new approach to India, which will consolidate all businesses into one team with an integrated strategy. GE has 12,000 employees in India and all its business leaders in the country will now report to Flannery, marking a change from the earlier model where they reported to their respective GE businesses. Flannery himself reports to GE vice-chairman John Krenicki.
Flannery is expected to replicate the success he has had building a similar model for GE Capital across Asia. As president and CEO for the region, Flannery oversaw all of GE's financial services businesses.