Dmitri Stockton was named president and CEO of GE Asset Management, spokesman Chris Linehan confirmed.
Mr. Stockton is replacing Jay Ireland who on April 15 will become president and CEO for GE Africa, a newly created position, Mr. Linehan said in an interview.
GE Asset Management manages $119 billion in assets, including $45 billion in pension assets for General Electric Co., Stamford, Conn.
Mr. Stockton will assume his new job on May 1. He has worked for parent General Electric in several capacities for 24 years, most recently as president and CEO of GE Capital's global banking unit, a news release said.
Mr. Linehan added that a replacement for Mr. Stockton hasn't been chosen yet.
“With past leadership roles throughout GE in sales, real estate, bond financing, mortgage insurance and risk management, Dmitri brings a strong background in capital markets and financial services to his new role leading GE Asset Management,” said Keith Sherin, GE vice chairman and CFO, in the news release.