Banks, EU – Baltic States, Financial Services, Latvia

As reported earlier, the previous Chairman of the Board Dmitrijs Cimbers left the position in November of last year in order to continue his career outside GE Money. Up to the moment when a new chairman was elected, the everyday management of GE Money Bank was carried out by its senior management team, which was accountable to the bank's Council.

Javier Francisco Lopez and Windy Oliver were elected board members of GE Money for three years, writes LETA.

From September 2006 to June 2008, Lopez was Director of the Financial Planning and Analysis Department at the London office of GE Money, and from June 2008 until the present time – Financial Director of GE Money in Romania.

GE Money began operating in the Latvian market in May 2004 when it acquired the company RD Lizinga Grupa.

GE Money is a global financial corporation which operates in 55 countries around the world and belongs to the "General Electric" (GE) corporation, which is one of the largest companies in the world, operating in six business areas and represented in 100 countries.

In Latvia the company offers consumer credit for goods and services, money loans, automobile loans, and autoleasing services.

On November 16 2006 GE Money acquired Baltic Trust Bank in order to broaden its operations and development in Latvia.

In 2008, GE Money was ranked 46th on the list of the "101 Most Valuable Latvian Companies" compiled by the business magazine "Kapitals", IBS Prudentia and the Riga Stock Exchange, with a value of LVL 35.24 million.