Former DAE Capital boss joins Californian engine firm

Genise joined DAE in 2007 as CEO having had previous successes as the founder of Boullioun Aviation Services.

The Dubai company had made a splash in 2006 when it was introduced as a $15bn aircraft leasing and services company to complement Dubai's airport development boom. Its customers include Virgin Blue, Emirates, Easyjet and Kingfisher.

Genise quit a year ago ahead of a financial crisis for the leasing company and following a mass exodus of management amid cancellations of 62 orders.

Cameron Burr, executive vice president of Avioserv, said: "We are so fortunate to be working with Bob. He has been responsible for the creation of three extremely successful leasing companies: Boullioun; Singapore Aircraft Leasing Enterprise (now Bank of China Aviation); and DAE Capital. His addition to the board is a tremendous fit."