GE’s UK fleet division is merging into a new business unit as its parent company looks to make $2 billion of savings this year.

The GE Capital Solutions Fleet Services business will now report into the newly-formed GE Capital UK division.

John Jenkins, previously chief executive officer of GE Commercial Finance, Business Finance, will head up the new division.

GE Capital Solutions managing director Rich Green will move to another, as yet undisclosed, role within GE.