GE CAPITAL FORMS DEDICATED DEPARTMENT STORE GROUP
GE CAPITAL FORMS DEDICATED DEPARTMENT STORE GROUP STAMFORD, Conn., Nov. 4 /PRNewswire/ -- Recognizing the special
needs of department stores, GE Capital Retailer Financial Services has formed the Department Store Group to provide specialized and expanded private label credit card services to department stores.
In announcing the group, Daniel W. Porter, vice president and general manager, Private Label Financing, GE Capital Retailer Financial Services said, "Over the past few years, no single industry has undergone such dramatic and continuing change as the department store industry. The charter of the new Department Store Group is to broaden the scope of our private label credit card services to better meet the needs of such a changing environment." He also noted that the Group would serve as a focal point in marshalling GE Capital's substantial account receivables resources and expertise in such areas as financial engineering, securitization, systems, operations, marketing, and risk management in order to respond quickly and creatively to potential clients on an individual, customized basis. Stanley W. Makson has been named director of the Department Store Group. Prior to his current post, Makson was a senior manager for Business Development and manager of Corporate Marketing. GE Capital Retailer Financial Services, one of 20 GE Capital businesses, is the world's largest third party issuer of private label credit cards managing 55 million individual credit card accounts for over 200 of the top retail businesses in the U.S., Canada, and Europe. Recently GE Capital purchased the credit card operations of Macy's and Montgomery Ward. GE Capital, headquartered in Stamford, is one of the nation's largest diversified financial services companies with more than $74.2 billion in assets. -0- 11/4/91 /CONTACT: Lisa Berger of GE Capital, 203-357-4346/ CO: GE Capital ST: Connecticut IN: REA SU: SH -- NY021 -- 0619 11/04/91 09:56 EST
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|Date:||Nov 4, 1991|
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