Daily News: October 11, 2013

Nason Named New President/CEO of GE Energy Financial

GE Capital has named David Nason as president and CEO of GE Energy Financial Services, succeeding Alex Urquhart, who is retiring after a 32-year career at GE.

Nason joined GE Capital in 2010 as senior vice president and global regulatory management and compliance officer. In this role, Nason led the global regulatory and compliance team, preparing GE Capital for the changing regulatory environment in markets around the world.

Before joining GE, Nason was a managing director at Promontory Financial Group where he advised financial institutions on strategic matters including corporate governance, risk and financial controls, due diligence, potential combinations and regulatory requirements.

Nason joined the U.S. Department of the Treasury in 2005 and served as assistant secretary for Financial Institutions under Treasury Secretary Henry M. Paulson, during which time he was a key architect of the federal government’s response to the financial crisis of 2008. Before joining the Treasury Department, Nason spent three years as counsel to Securities and Exchange Commissioner Paul S. Atkins. At the SEC, Nason assisted in implementing the Sarbanes-Oxley Act of 2002.

Urquhart became CEO of GE Energy Financial services in December 2003. He joined GE in 1981 and moved to GE Capital in 1985. In 1993, he was named senior vice president and director of new business development of GE Structured Finance and in 1994, senior vice president and director of Infrastructure Finance. He became managing director of Global Energy of Global Energy in 1998. He was appointed an officer of GE in April 2005.

To read the entire GE Capital press release, click here.