Dmitri Stockton, a 24-year veteran at GE Asset Management (GEAM), has been named president and CEO at the firm, the global asset manager said today.
He succeeds Jay Ireland who has been tapped to take on the role of president and CEO of GE Africa, a newly created position.
Meanwhile, Stockton taking on the lead function at GEAM, means he will step down from overseeing GE Capital’s global banking unit where he was responsible for the global banking and consumer lending businesses and joint venture relationships in over 20 countries, a April 5 statement noted. Additionally, he is a senior vice president of GE Co. and a member of GE’s corporate executive council, and serves on the board of the GE Foundation.
Stockton began his career at the Stamford, Conn.-based firm in 1987 on the financial management program, which “which grooms recent college grads for GE leadership roles,” according to its Web site.
In 1991, he joined the commercial real estate division, and was named senior vice president and chief risk officer for GE Mortgage Corp. in 1997. His other roles at GE include senior vice president of marketing and business development for GE Mortgage Insurance, vice president of GE Capital, CEO for GE Capital Bank in Switzerland, president and CEO of GE Money’s Central and Eastern European banking group, and vice president of GE Co.
“With past leadership roles throughout GE in sales, real estate, bond financing, mortgage insurance, and risk management, Dmitri brings a strong background in capital markets and financial services to his new role leading GE Asset Management,” Keith Sherin, vice chairman and CFO of GE, said in the statement.
Sherin added that Stockton’s “global experience will be an asset to the firm’s efforts to expand its investment reach and presence around the world.”
GEAM, which is wholly owned by GE, oversees roughly $119 billion in assets as of Dec. 31, 2010. The firm offers investment strategies across all asset classes.