Malak will be replacing Mark Hampson, who held the position as interim since January, and is the company’s Integration Leader. The new CEO comes to Romania after only a few months in the GE team.
Prior to GE, Malak worked for eight years for Associated First Capital Corporation, one of the largest consumer finance multinationals. Other companies he collaborated with are Progressive Corp, Standard Oil, and Colgate-Palmolive. The new GE Money CEO has six year’s experience in the coordination of retail finance divisions in Central and Eastern Europe (CEE), of 20 years he has worked in the consumer finance field at the international level. “Romania offers extraordinary growth opportunities for GE Money as one of the largest countries in the CEE with a continuously developing economy. Less than one year since the acquisition of Domenia Credit, Motoractive Leasing, and Estima Finance, our integration team has completed over 75 percent of the integration process of the three Romanian companies,” said the new CEO.
GE Money entered the Romanian market in 2006 by acquiring Motoractive Leasing and the consumer loan company Ralfi (operating on the market under the name Estima Finance), and the mortgage company Domenia Credit. The total value of the transaction was some €140 million. The integration process was coordinated by Mark Hampson. In the next few months, the two managers will work on an efficient transfer of duties. “We will start a rebranding campaign in the coming period to mark the completion of the integration process,” said Malak.
The new GE Money CEO has a Master’s Degree in International Management from the Thunderbird School of Global Management (Arizona) and a PhD from Kent State University. GE Money’s headquarters is in Stamford, Connecticut, and the company operates in 54 countries (23 in Europe). The company, whose assets are worth €140 billion, offers financial products such as credit cards, bank cards, car leasing and loans, mortgages, personal finance, and complex financing and insurance services.
