Colin Shave is to retire as CEO of GE Money Home Lending (GEMHL) on 31 December 2010, after a 35-year career with GE.

He joined the business in 2003 having previously having worked for GE in a variety of roles around the world including South Africa, the US, Venezuela and across continental Europe.

He will also be stepping down from the positions of deputy chairman of the CML and a director of IMLA as well as chairman of GEMHL.

Mark Begor, president and CEO of GE Capital Restructuring Operations said: “Colin has enjoyed a long and distinguished career within GE and in particular at GE Money Home Lending which