GE Financial has reforged the image of its newest acquisitions, Centurion Capital Management and Centurion Trust Company. The Sherman Oaks, Calif. firms are now respectively known as GE Private Asset Management (GE PAM) and GE Financial Trust Company.
Bethann Roberts, appointed CEO of GE PAM in January of this year, said the change represents only the first of a number of initiatives for expansion set for this year.
"We see terrific opportunity in this market, which we believe to be highly fragmented right now. We have a strong base with the former Centurion Capital Management and we are looking to build on this platform over time, leveraging the advantages of GE Financial," Roberts said.
Roberts described three main initiatives for the firm: core growth of existing relationships; leveraging cross-selling and distribution opportunities within GE Financial; and a continuation of an acquisition strategy.
This year, GE PAM will attempt to achieve these goals through four initiatives, Roberts said The firm will expand its product line, focusing on innovation. GE PAM will also seek to strengthen its distribution capacity by building "significantly" on its current sales staff of 12, Roberts said. In order to beef up its advisors business, the firm will update its Internet site, he said. Finally, GE PAM will capitalize on cross-selling opportunities through GE Financials existing distribution relationships.