GE moves arm to capital

INTERNATIONAL financial giant GE Capital is to centralise its worldwide treasury operations in Dublin. The group said yesterday that GE Financial Markets will open an office in the city in the summer.

The new office will employ 14 people and will manage the hedging policy for GE Capital's enormous cash flows, which run into many billions of euro.

The office will trade derivative financial instruments to minimise currency and interest rate risks. But it will not engage in high-risk speculative trading to make a profit on its own account.