DAE appoints Capital CEO

American-born Robert Genise, 59, previously President and CEO of Boullioun Aviation Services, will join DAE on April 22nd.

Genise was responsible for building Boullioun into one of the world's top leasing businesses, taking the company from its inception in 1988 and growing its asset base to more than $3 billion with $250 million in annual revenues at the time of its sale in 2005.

He had been a founding shareholder in the business and originally its Senior Vice President Marketing, responsible for the development and implementation of the company's strategic plan, and for its business development. He also represented Boullioun in its development of Singapore Aircraft Leasing Enterprise as a joint venture with Singapore Airlines and served as a director for 10 years.

Genise had previously been SVP of the Chemical Business Credit Corp. at the Chemical Bank, managing its asset-based finance and leasing business in credit, marketing and administrative capabilities. These assets included commercial aircraft.

Later he served as Managing Director for the bank's Special Finance Group, based in London, with responsibility for all of Chemical Bank's international aviation banking and leasing business, developing a portfolio from $800 million to over $2.5 billion inside two years.

A career in banking had previously seen Genise work at Litton Industries Credit Corp and the State National Bank of Connecticut.

DAE Capital is one of six divisions of DAE - the others being DAE Airports, DAE Manufacturing, DAE University, DAE Engineering and DAE Services - and will aim to take a leading role in global airport development and operations. Genise will report to DAE chief executive Bob Johnson.

Johnson said:

"In appointing Bob Genise we have put down a significant marker to underline our plan to build an industry-leading leasing business. Bob's record of establishing a world class aircraft leasing business and his background in aviation banking make him a valuable addition to our leadership team and will ensure that DAE Capital competes with the best on a global level."

Genise, who holds an MBA from the University of Connecticut and a law degree from Pace University in New York, having earlier gained his BA at New York University, said: "I am delighted to be joining a business whose ambition to create an innovative global aerospace leader is clearly defined. This is a unique opportunity and I look forward to building a team and a business that will ensure DAE Capital becomes a partner of choice for airlines worldwide."

Genise is also Chairman of the Board of the Museum of Flight in Seattle and a member of the Entrepreneurship Center Advisory Board at Seattle University's Albers School of Business.