FinalCut: GE Capital to Expand in Chicago, Will Add 1,000 New Jobs
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GE Capital announced plans to expand its operations in Chicago by bringing 1,000 jobs to the city, building on its already strong presence in the region. Currently, GE Capital has more than 1,000 employees in Chicago and over 4,000 overall in the state of Illinois. GE said the decision reflects its commitment to the region and desire to support future growth in its business.
“Chicago has been a great market for GE Capital in a number of ways. The city and surrounding areas are home to many thriving, main street companies we serve as customers. Currently we have over $5.4 billion in financing commitments extended to over 11,000 customers in Illinois. Chicago also offers a deep pool of financial services talent we can draw upon to help serve our customers in the area and across the country,” said Dan Henson, GE Capital, Americas president and CEO.
GE said the new Chicago jobs will consist of skilled commercial, technical and regulatory positions to support primarily GE Capital, Americas business with some functional support for GE Capital overall.
The 1,000 existing Chicago jobs include those at the headquarters of its Commercial Distribution Finance unit and GE Antares Capital, a middle-market private equity lender. GE Capital has grown its presence in Chicago over the years with the acquisitions of Heller Financial in 2001 and Antares Capital in 2005.
GE Capital in the Americas has about 8,000 total employees and generated $428 million in this year’s first quarter, a rise of about 60% over 2010, the company said in the news release.