Capital One adds GE Capital veterans- exclusive

 The Virginia-headquartered bank has added former GE Capital staff members as industry fallout from sales continues.  

Capital One has hired three former GE Capital employees to support its expansion into non-healthcare lending, according to PDI sources. Sources say that Bob McCarrick, former GE Capital chief commercial officer, and Ray Shu, former senior managing director and team leader of GE Capital's technology, media and telecom (TMT) group, will join their former colleague John Crosby at Capital One. Additionally, according to his LinkedIn profile, Robert Malone, also formerly of GE Capital's TMT unit, has joined Capital One.

McCarrick is commercial leader of the mid-corporate banking team, based in Capital One's New York office, according to his LinkedIn profile. McCarrick started as an analyst at GE Capital in 1993 and eventually spent four years as chief commercial officer for lending in the company's corporate finance unit.

According to his LinkedIn profile, Shu is based in Atlanta as managing director and head of originations in the TMT sector for Capital One. At GE Capital, Shu spent nine years as senior managing director and team leader in the TMT sector before his team was released in November when Antares was purchased from GE Capital by the Canada Pension Plan Investment Board. Before starting with GE Commercial Finance in 2000, Shu held positions with Bank of America and Price Waterhouse.

Malone is also a managing director in the TMT sector team for Capital One, according to his LinkedIn profile. Malone spent ten years as managing director in GE Capital's sponsor finance team, working on deals related to the TMT sector as well as education and business services. Before joining GE Capital in 2001, Malone held positions with Sun Trust Robinson Humphrey and Bank of America.

A Capital One representative did not respond to questions about the personnel changes by press time.

Sources say the new hires were initiated by John Crosby, who came to Capital One as part of its acquisition of GE Capital's healthcare practice. According to his LinkedIn profile, Crosby is chief credit officer of Capital One Healthcare, which was formerly GE Capital Healthcare Financial Services.

Last August, Capital One agreed to buy GE Capital's healthcare business as part of parent company General Electric's move to divest most of GE Capital's business units in an effort to avoid being designated as a systemically important financial institution.