Kevan Langley, who left the UK lessor and property funder
Haydock Finance some 15 months ago, around the time it sold off a
large part of its leasing business, is back at his old company
again.
His return coincides with the decision by the Blackburn-based
leasing company to re-launch its old business.
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Langley’s job will be as senior underwriter, while Sue
Butterworth, who has been with Haydock for around five years, will
oversee the new business.
Butterworth said the decision to relaunch was largely driven by
customer demand. “Basically, due to requests from customers and
some of our brokers, we have decided to re-open the corporate
[leasing] business on a limited basis to customers and brokers that
have been loyal to us.”
Around the time of the department closure last year Mike
Hartley, one of its directors, left the company and helped to set
up One Business Finance, part of Close Asset Finance, which
specialises in deals below £250,000. One of Haydock’s sales
directors also left around this time.
The new business under Butterworth and Langley will focus on
“general bread and butter assets”, and deals will range in size
between £5,000 and £350,000. It will consider deals above this
size, and these will be credit checked by a specialist Haydock
committee.
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By GlobalDataButterworth, who emphasised the business will be exclusively
broker-driven, added: “It will be on a smaller scale to what we had
before. Whether we bring in more people will depend on how we
develop. We need to see overall appetite in the market.”
Its commercial vehicle finance under Donald Maguire is
predominantly underwriting deals in Scotland. Its England business
is largely broker-introduced deals.
Meanwhile, its property finance arm is planning to increase the
amount it lends in 2008 to £40 million, up from £30 million last
year.
