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GE Capital chief on the move

Skander Malcolm, chief executive of GE Capital in Australia and New Zealand, is leaving the business to work in the health care division of General Electric.Greg White, who is presently head of fleet and equipment finance, will act as CEO until a permanent chief executive is appointed.GE appointed Malcolm in early 2010. During his tenure, GE repositioned its financial services business in Australia, selling its home loan business to Aussie Home Loans and winding down its dealer finance arm.GE said that its net income for the year to December 2011 increased by six per cent to A$467 million. On an underlying basis, net income increased by 20 per cent. Net lending assets declined last year by one-third, to A$9.9 billion.

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