Mr. Meiches, 51, will be responsible for investment portfolios totaling $57 billion, business development and the management of discontinued operations, GE ERC said.

Mr. Meiches will also continue to serve as the company's chief financial officer until a replacement is selected, the company said.

Both Mr. Smith and Mr. Meiches are vice presidents of the General Electric Company and will continue to report to Ron Pressman, chairman, president and chief executive officer of GE ERC.

"These appointments help simplify our organization for our customers while focusing our expertise and talent in underwriting and investments," said Mr. Pressman. "Rick Smith and Marc Meiches will provide strong leadership and disciplined operating skills in these expanded roles."

Louis Parker, 49, who had served as Commercial Insurance leader, has been promoted to a senior role at GE Infrastructure. Alfred Stanley, 41, who had led GE ERC's life and health reinsurance team, has accepted a position outside the company with Morgen Thaler, a private equity firm in Cleveland.

ERC serves clients with reinsurance and commercial insurance and other risk management services. Information on ERC is available at www.ercgroup.com.