All articles by Verdict Staff
Verdict Staff
On the move
Andrew Bullard, the well-liked figure who for some time has been the face of State Securities, has stepped down from his position of sales director at the subprime specialist asset finance lender after 12 years This follows the departure of its former director, Simon Mills, in March after more than two decades at State Securities, part of the Rothschild-owned Five Arrows Leasing Group
Demand grinding to a halt
Leasing Life, in collaboration with Tallon & Associates, publishes a monthly analysis of data on the demand for used assets This month we look at changes in demand for machine tools.
The Leasing Life Awards
Leasing Life is hosting its third equipment finance awards in Berlin this December. Preparation for this prestigious event that attracts leasing companies from across the whole of Europe are already underway The Leasing Life editorial team has sent out questionnaires to Europes major lessors the responses to which will form the basis for deciding who will be the runners-up in each category
Murky Business
Most of Europes small and midticket leasing industry, has not had the benefit of national asset registers and, as a result, has sometimes been the victim of large-scale fraud Leasing Life takes a closer look in a special 23-page investigation
Alpine lessors feel the pinch
In Leasing Lifes monthly investigation into the performance of leasing economies, Antonio Fabrizio examines how the Austrian and Swiss markets might be worth investing in once the recession ends With an increase in arrears and a substantial drop in new business, commercial vehicle leasing seems to be the most badly affected segment in the Austrian and Swiss markets this year. It is not all bad news, though, because local leasing experts believe that contra-cyclical effects and a general positive tendency towards leasing could trigger a renaissance for the sector once the credit crisis is over.
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On the move
Steven Bierman, president of CNH Capital, the captive arm of agricultural and construction equipment manufacturer Case New Holland, has been appointed as interim chief financial officer for parent CNH Global NV
Basement Talk
Dear readers, welcome to Basement Talk, Leasing Lifes monthly diary page, filled with the latest gossip and insight on the less visible aspects of the asset finance industry For many months, Smartfundit.com has patted itself on the back, issuing press release after press release about how great the company was doing and how revolutionary its end-to-end online platform was. Last month, however, Smartfundit.com Ltd and its parent company, Corporate Computer Lease Ltd, both went into administration, and both have now ceased trading.
TSB Autolease funds 100 vans
Contract hire giant Lloyds TSB Autolease has funded the acquisition of 101 Fiat Grande Punto vans by power provider e.on, in a deal motivated by the clients need for lower fuel bills, capex and carbon dioxide emissions in its meter reading fleet.The five-year contract hire agreement, based on an assumption of 30,000 miles per year per van, was masterminded by Fiat Professionals national contract hire and leasing manager, Colin Parnell, and Grahame Neagus, the head of Autoleases CV division
Machinery leasing 44% down
The UK’s Finance & Leasing Association has called for further Government support for asset finance, as first-quarter results for 2009 showed a 44 percent interannual drop in finance for plant and machinery.
European Central Bank says EU banks face more losses ahead
The European Central Bank (ECB) has said that Eurozone banks face additional losses of more than $283 billion (203 billion) this year and next, with a consequent reduction of funding which could lead to further troubles for the leasing industry According to the ECBs latest financial stability review, there has been “a significant increase in the range of estimates of potential future write-downs and losses that banks will have to absorb before the credit cycle reaches a trough. Consequently, the report continues, banks are cutting costs and tightening credit standards on new lending, resulting in some investments and purchases not being made, thus hampering growth.