Fairfield, Conn.-based General Electric (GE) reports that its wholly owned investment management arm, GE Asset Management (GEAM), has been acquired by Boston-based State Street Corp.’s State Street Global Advisors (SSGA) in a bid to strengthen its capabilities. The deal was for cash, “up to $485 million, subject to adjustments,” according to a statement by the… Read More >>
GE to Sell Off GE Capital
Industrial and financial behemoth General Electric is selling its finance arm, GE Capital, in a back-to-basics bid to focus on the higher margin industrial businesses the firm was built on. Under the board’s current plan, GE will retain elements of GE Capital that support its industrial businesses, like its aviation, energy and healthcare financing units,… Read More >>
