GE Buys Signature from Montgomery Ward

General Electric Co.'s financial assurance division has announced the purchase of Signature Group, Richmond, VA, a direct marketing company formerly owned by Montgomery Ward & Co.

GE said this week that its unit's acquisition of Signature would help better position the company as a direct marketer and emerging e-commerce merchandiser.

At GE Financial Assurance, Kathryn V. Marinello was name president/CEO of the Signature Group. She was formerly head of consumer financial services at GE Capital, where she served as executive vice president of GE Capital Card Services.

Terms were not disclosed.

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