All articles by Verdict Staff
Verdict Staff
Basement talk
Not only is Barclays Asset & Sales Finance rumoured to have recently doubled its previously mauled broker panel from two to four brokers, Santander is also expected to become a source of financing for Britains hard-up lease intermediaries.
German connection provides prop
A strong connection with Germanys industrial base helped prop-up Polands economy in 2009, and seems to have provided significant strength to the CEE countrys leasing sector, too. Polands new leasing business dropped by around 30 percent in 2009, according to recent statistics from Polish leasing association, ZPL. The drop for the period is less significant than in all other Eastern European countries with several in the Baltic and Southeastern regions seeing spectacular falls of between 65 and 80 percent during last year.
Smartfundit.com directors face disqualification
The directors of failed online finance portal Smartfundit.com Ltd and parent company Corporate Computer Lease Ltd (CCL), which both went into administration last year, could face a ban on becoming company directors in the future. Vantis Asset Finance, the companies administrators, are producing a report under the Companies Directors Disqualification Act, which will be submitted to the disqualification unit of the Department for Business Innovation and Skills, assessing Justin Floyd and Suki Gallaghers conduct in the run-up to the company going bust last year. Shortly after Smartfundit and CCL went under, venture capital firm BayTech, which had invested £3.3 million (3.7 million) into the businesses, claimed to have been misled, and accused them of financial mismanagement.
Close expands as Barley plans departure
Close Asset Finance is on the hunt for a new head following a decision by Mike Barley to step down after 11 years in the position, Leasing Life has learned.
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In brief 2
Deutsche Bank and Lloyds Banking Group might reconsider selling their stakes in Porterbrook Leasing, it has been reported Citing sources familiar with negotiations, Financial News magazine said the two banking groups have opted not to sell their shares in the UK train leasing company
In remembrance: Ray Hewitt
Ray Hewitt, who died last month aged 62, was a pioneer of recruitment for the UKs equipment finance sector with his company Hewitt Management Selection. Hewitt Management Selection, which Ray set up in 1975 to service the increasing resourcing needs of the then fast expanding leasing sector, became a model for later leasing recruitment companies.
In brief
Up to 65 percent of corporate financial advisors believe banks are not lending, a recent poll by Centric Commercial Finance revealed Described by advisers as a core funding solution, 80 percent of respondents stated that asset-based lending and invoice discounting offer improved working capital, followed by higher levels of finance over and above traditional sources.
On the move
Dunstable-based truck rental, contract hire, driver and fleet management firm BRS has announced that Jon Juxon has been appointed as its new sales director.Juxon joins BRS from the Royal Bank of Scotland, replacing Mark Barton, who left BRS earlier this year.