GE Commercial Finance has appointed of Michael McGonigle as managing director of trade accounts receivable securitization within its corporate lending business. McGonigle will head up the team that focuses on providing financing of $75-million or more to corporate borrowers by securitizing trade receivables.
The new appointee has more than 20 years of experience in corporate finance. He was most recently managing director within GE - corporate lending responsible for providing junior capital debt solutions to clients. Before this, he was managing director of GE - bank loans where he led the team handling distressed bank debt investing and loan participations.
McGonigle joined GE in 1982 and has held different positions within the organization, including loan origination, underwriting and risk management.
"With years of corporate finance experience, Mike and his team are uniquely qualified to help clients gain smarter capital through this alternative source of financing," said Tom Quindlen, president and CEO of GE corporate lending. "Borrowers will also benefit from having a single source of asset-based, cash flow and structured finance--including a trade accounts receivable securitization product that's unique to GE."