While at the helm, Welch bought and sold scores of businesses, expanding the industrial giant into financial services and consulting. GE Capital Bank was founded seven years into his tenure. His acquisitions included RCA — then-owner of NBC — and Kidder Peabody, the brokerage that became entangled in an insider trading scandal.
https://www.cnbc.com/2020/03/02/jack-welch-obit-ge.html
https://www.cnbc.com/2020/03/02/jack-welch-obit-ge.html