GE Capital hires B of I executive

General Electric’s lending arm has hired Ralph Betz from Bank of Ireland to head leveraged finance in Germany as it seeks to take market share from rivals hamstrung by the sovereign debt crisis.

GE Capital’s European leveraged-finance unit is pushing to expand by arranging more leveraged financing for mid-sized companies and buying assets from other banks, according to Paul Scott, chief investment officer and head of sponsor coverage for Europe, the Middle East and Africa. Mr Betz, based in Frankfurt, will report to Scott. GE Capital has a 1.2 per cent market share in arranging European buyout loans this year, up from 0.8 per cent in 2011. – (Bloomberg)