All articles by Verdict Staff
Verdict Staff
New head of asset finance at Barclays
A senior member of the Barclays Asset & Sales Finance (BA&SF) part of the Iveco Finance management team has accepted a considerable promotion within the UK bank. David Nield, the former deputy chief executive of Iveco Finance, has been promoted to head up the asset finance arm of BA&SF, and to be part of the Exec team reporting direct to Ian Stuart, managing director of BA&SF.
Frontline’s DealTrack product now installed in 30 lease brokerages
From a standing start five years ago, Frontline Solutions UK, headed by managing director Andy Shuter, has implemented its principal product, DealTrak Broker, into around 30 brokers
Car leasing market in Latvia corrects itself
Latvias car leasing market has regained its balanced long-term growth, according to Nordea Finance Latvia Leasing
KBC reports 44% fall in Q1 profit
Its net profit for the first quarter of 2008 was down 44 per cent to 554m, compared to the first quarter in 2007 and its underlying profit came to 573m, also down 22 per cent on the first quarter in 2007 and down 15 per cent on the previous quarter
Upturn at Cisco Cap linked to easy lease product
Finance captive Cisco Capital has attributed the companys significant profit and turnover contributions it has made to its parent company, Cisco Systems, to its easy lease product Guy Smith, marketing manager for Cisco Capital in Western Europe, said: We are recognising in excess of 30 per cent growth year-on-year in the Western European markets since the launch of the easy-lease product. Focused on the SMB and mid-market space, Cisco Capitals easy-lease product offers 0 per cent financing for those companies that need to acquire technology immediately without a large initial outlay
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Handels Finans in tendered biofuel deal
Handelsbanken Finans continues to show its green credentials with a 200m lease and loan financing for a power plant in Finland The deal, which follows similar- sized ones in terms of value and type, involved financing being provided through Handelsbanken Finans Swedish branch and the structuring and client liaison taking place in Finland
Untouched by the credit squeeze, say finance pioneers
Stewart Dick and Gillian Keeler, directors of Private Client Finance at Arbuthnot Banking Group, claim to have more or less invented superyacht financing in about 1997, when they worked at the Ansbacher Banking Group.
IKB Leasing sees upturn in new business
German lessor IKB Leasing Group has reported a 23 per cent increase year-on-year in new business on the back of an upturn in equipment leasing and the launch of new products.
Rothschild’s ABL business sold to GE
Five Arrows Commercial Finance Ltd, the asset based lending arm of the bank NM Rothschild & Sons Ltd, has been sold to GE Commercial Finance.
Efficient leasing
The leasing arm of one of Russias largest banking groups, VTB Leasing, reported total assets of RUB38.6bn (1.04bn) as at June 30 2007