ABB has picked a former General Electric manager as its chief executive, in an indication that the Swiss-Swedish engineering group is about to embark on an expansionist strategy in spite of global upheaval linked to the credit crunch.

Joe Hogan, who has spent 23 years at the US conglomerate, was head of its healthcare division. A US citizen, he is the first non-European to take the helm at ABB since its creation in 1988.