GE Commercial Finance has named Randy Hicks as senior managing director of the Northeast region of its Commercial Finance Corporate Lending division, a new position. GE has been looking to beef up its corporate lending business after it combined its asset-based lending, cash flow lending and structured finance platform into one corporate lending group (CIN, 4/24).
The firm plans to focus on nine specific industries including: Aerospace & Defense; Automotive & Automotive Parts; Chemicals & Plastics and Financial & Business Services, among others. Hicks said the firm focuses on these industries because of the "capital-intensive nature" of their businesses. The firm has provided more than $2 billion of commitments in the first half of this year.
Hicks was previously the Northeast region managing director of loan origination and underwriting, serving borrowers in New England. He reports to Jim Kelly, general manager, North America, GE Corporate Lending.