Barclays Asset & Sales Finance (BA&SF) and Iveco have
appointed a new deputy chief executive officer for their joint
venture Iveco Capital, to which BA&FS says it is still “fully
committed”.
Maria Parpou replaces David Nield, who recently left Barclays
after working there for more than three years.
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Parpou joined Barclays in 2004 and has covered several key
roles, including chief of staff for Barclays Commercial Bank,
director in the strategy team at Barclays Capital and head of group
strategy for Barclays.
Iveco Capital, the trading name of Iveco Finance Holding, is a
joint venture formed between the Italian truck manufacturer and
Barclays back in 2005.
Barclays has a 51 percent controlling stake in the venture,
while Iveco holds the remaining 49 percent.
The two companies agreed to combine part of their respective
businesses to provide commercial vehicle financing and leasing
solutions to Iveco customers in the UK, Italy, Germany, France and
Switzerland.
Despite rumours that the UK lessor is becoming uncertain about
the future of the joint venture, BA&SF said it remains “fully
committed to it”.
It has declined to comment on what will happen to the joint
venture when its five year contract comes to an end in 2010.
A Barclays spokesman said the company cannot discuss “the terms
of commercial arrangements that we have in place”. He added that
Barclays sees the JV as a “successful business”.
Iveco Capital said that in 2008 it helped Iveco customers
finance some 20 percent of the firm’s vehicle sales in the UK,
doubling its 2007 performance, with a strong increase in the
financing of light commercial vehicles.
