The leveraged finance division of General Electric has recruited Jean Marc Barrabes as the head of leveraged finance in France from the Bank of Ireland.
Barrabes will report to Thierry Willieme, chief executive of GE’s leveraged finance operation. The previous Paris head, Luis Mayans, has moved internally within General Electric.
Before joining GE Barrabes was head of Bank of Ireland’s acquisition finance division in France for three years. He was previously an investment director at Royal Bank of Scotland Private Equity for three years and a director of acquisition finance at Bank of Scotland in Paris from 1995 to 2000. He began his career in 1993 as an analyst for electronics and defence contractor Thomson-CSF, which became the Thales Group, in London.
He said in a statement GE Commercial Finance was growing its business and it had opportunities in France.
Recent deals by the division include the financing of Bridgepoint’s acquisition of French and US aerospace and defence component business GDT for $343 million (€231.8 million) in June as well as Oak Hill Partners’ buyout of Firth Rixson for $2 billion in November.
New Year moves continue across the private equity industry. Last week GE’s former Japanese chief executive took a senior advisory role at TPG in Japan and Close Brothers’ head of financial sponsors Darren Redmayne joined US mid-market bank Lincoln International to open its London office.