ABN Amro Lease has appointed Knut Espeler as managing director for Germany from 1 August in preparation for its domestic launch in the country later in 2014.
Currently ABN offers specialised services in commercial finance and merchant banking on a cross border basis, and Horst Schmidt, country executive for Germany at ABN AMRO said the building of a German subsidiary for the leasing business "underlines Germany’s significance as one of the most important external markets of ABN AMRO group."
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Prior to joining ABN, Espeler worked at BNP Paribas Leasing Solutions Germany, where he was head of bank leasing services, and has also worked as chief executive officer of Fortis Lease Deutschland.
Frank Stienstra, chief executive officer of ABN Amro Lease said; "The German market represents an exciting growth opportunity for ABN AMRO Lease and Knut is ideally qualified to drive our ambitions in this market."
The hire closely follows ABN launching in the UK, in June 2014, under the leadership of UK managing director George Ashworth.
At the time, Ashworth told Leasing Life of ABN’s plans to expand to Germany, and added this would likely be followed by a launch in France.
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