Reuters reported JPMorgan Chase hired Clarence Nunn, the former chief executive of GE Capital’s franchise finance business, to lead its middle market expansion strategy in the Southeastern U.S.

In addition, Reuters said that Nunn will lead the franchise finance business of Chase’s Middle Market Banking & Specialized Industries team.

Nunn will replace Mark Bensabat, who will retire next year following a 35-year career in banking, Reuters noted.