GE Money appoints new head and intends to rebrand

GE Money, the retail financial services arm of General Electric US giant, is preparing to rebrand its companies – Motoractive Leasing, Domenia Credit and Estima Finance. GE Money has recently appointed a new head of Romanian operations, Ronald Malak, a Slovakian-born American and former general manager with CitiFinancial for Central and Eastern Europe. In Bucharest, Malak replaced Mark Hampson, a former interim CEO with GE Money Romania. Hampson will continue to be in charge of the integration of the three companies taken over in the group’s activities and holds the position of Integration Leader. According to the previous statements released by GE Money officials, the rebranding of the three companies will cost 2-2.5m dollars. The Americans bought the three companies late last year in a deal worth 140m dollars. At the beginning of the year, GE Money announced that 15m dollars had been earmarked for the development of Motoractive Leasing, Domenia Credit and Estima Finance. The money will be used to open new branches, for the IT system and to rebrand the companies.