Global Jet Capital, a provider of financing solutions for large-cabin, long-range private jets, has announced that industry veteran Dave Labrozzi has joined the company as chief operating officer (COO).
Before retiring from GE in 2014, Labrozzi had spent 35 years with the company, having held roles with responsibility in sales, risk, business development and general management. Labrozzi spent 22 of his years with GE dedicated to corporate aviation, with the last 15 years leading the company’s financing activity in the sector as president of GE Capital, Corporate Aircraft.
In October, Global Jet Capital announced plans to purchase GE’s corporate aircraft lease and loan book in the Americas. This acquisition is now around 90% complete, with the aim of completing the remaining 10%, which consists of accounts in Mexico and Brazil, by the end of January 2016.
As COO at Global Jet Capital, Labrozzi will lead all new business sales origination and aircraft resale and releasing activities. He will also be ultimately responsible for areas including risk, underwriting, portfolio management and asset management.
With a lengthy track record in the sector, Labrozzi is highly respected as a leader in corporate aviation and has served on the NBAA Associate Member Advisory Council.
Shawn Vick, Executive Director of Global Jet Capital, said: “Dave is a major addition to our senior leadership team and we are delighted he is joining at such an exciting time in our development. We have completed the majority of our acquisition of GE’s fixed-wing Corporate Aircraft financing portfolio in the Americas, and having such a well-regarded and highly experienced industry figure within the business will help us drive our further growth.”
Labrozzi’s appointment is part of a strategic move by Global Jet Capital to add new talent in its key international markets. As well as expanding the team in the US, Global Jet Capital is in the process of adding origination professionals based in London, Hong Kong, Continental Europe and Dubai. A full list of job opportunities with Global Jet Capital can be found at http://www.globaljetcapital.com/careers/.
Global Jet Capital launched last year, and it is capitalized by three global investment firms – GSO Capital Partners, a Blackstone company in partnership with Franklin Square Capital Partners*; The Carlyle Group; and AE Industrial Partners.
The company’s current management team and executive committee is composed of leaders from business jet manufacturers, maintenance and service providers and leading financial institutions who have served the private aircraft industry for a combined 200-plus years and have completed over 3,500 aircraft transactions.
*Investment to be made by funds sub-advised or advised by GSO Capital Partners and Franklin Square Capital Partners or their respective affiliates, as applicable.