Ellen Brunsberg, head of GE Capital Real Estate’s UK business, has been promoted to CEO for Europe.
Brunsberg takes over from retiring European CEO Lennart Sten and will continue in her role as head of GE’s UK property senior lending business, which she took over a year ago.
The company plans to expand its senior lending into continental Europe and recently approved the creation of a new role to develop lending in France.
In another move, Mike Bryant, formerly head of asset management in Europe, is succeeding the retiring Richard Vliet as European head of risk.
The change reflects the focus on lending and the winding down of GE’s legacy bricks-and-mortar portfolio, which still has 600, 80% occupied, properties. See GE Capital Real Estate profile, March issue