Magazine article American Banker

Executive Changes

Magazine article American Banker

Executive Changes

Article excerpt

NEW ENGLAND

General Electric Co. of Fairfield, Conn., has named Richard Laxer the president and chief executive officer of its GE Capital Services, which has leasing, financing, and asset management operations in 30 countries.

Mr. Laxer has worked at GE for 22 years, most recently as the head of European operations for GE Corporate Financial Services. Before that he had led GE's Asia-Pacific real estate business for three years in Tokyo.

Earlier he had established and run GE's real estate fund capital group in New York.

In his new job he will report to Mike Neal, the president and CEO of GE Commercial Finance and a vice chairman of the parent.

New York Life Investment Management LLC, a Westwood, Mass., unit of New York Life Insurance Co., has promoted Don Salama to run its retirement plan services division.

Mr. Salama, who remains a senior managing director, had led sales, marketing, and product development for the division.

Earlier he had been a vice president and the director of retirement plan solutions at Hartford Financial Services Group Inc.

He has 20 years of retirement plan experience.

MIDDLE ATLANTIC

New York Life Insurance Co. has hired Judith Vance as its chief human resources officer and a senior vice president.

Ms. Vance had the same job and title at Moody's Investors Service Inc. Before that she had worked in a variety of senior human resources jobs in seven years with Prudential Financial Inc.

Earlier she had worked for more than 20 years at Aetna Inc., where she had been, among other things, the head of new business for its life insurance, annuity, and retirement businesses and the head of human resources for its financial services division.

At New York Life she will report to Sheila K. Davidson, the insurer's executive vice president for law and corporate administration. …

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