All articles by Claire Hack
Claire Hack
CIT to form new financial service provider with Lenovo
CIT Group is to work with computer developer and supplier Lenovo to form a new financial services provider. Lenovo Financial Services (LFS) is to provide a range of leasing, financing and vendor finance programmes for Lenovos business partners and customers.
BNP Paribas posts strong Q1 results
Equipment Solutions in particular, the division covering BNPs leasing business, posted a significant rise in revenues, standing at 357 million, or 81.2% up compared to the first quarter of 2009 The vigorous growth in revenues, combined with stable operating expenses over the period, contributed to a gross operating income of 162 million three times the level in Q1 2009.
VUB Leasing reports losses for 2009
Slovakia-based VUB Leasing posted losses of 7.3 million for 2009, compared to net profits of 3 million in 2008, it has been reported. The company signed deals worth 97.4 million in 2009, dropping 47.1% year-on-year, caused mainly by the continuing financial crisis and reduced demand for financial leasing
Leasing needed in German healthcare, says VR Medico
German healthcare providers need to turn to leasing as an alternative to other forms of finance after the segment was hit by the economic crisis, says VR Leasing subsidiary VR Medico
GE Capital back on the offensive
Despite having lost one of its vendor finance stars to Hitachi, GE Capital is now focused on Europe-wide expansion following a promising first quarter The news of Marie Dunkleys arrival at Hitachi Capital Business Finance as its new sales director, revealed exclusively at www.leasinglife.com last month, attracted interest from across the leasing sector.
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Jenkins jumps ship
Move to HP follows restructuring of Microsofts vendor finance programme Nigel Jenkins, former head of Microsoft Financing (MSF), has jumped ship to join Hewlett Packard Financial Services (HPFS).
Barclays global push means management rejig
Barclays Asset & Sales Finance (BA&SF) has undergone a major reshuffle of its top management as it seeks to expand globally and work more closely with its parents corporate arm,Leasing Life has learned. Ian Stuart has given up full-time responsibility for BA&SF to concentrate on a key sales role at Barclays Corporate.
Lands of hope and promise
As Europes largest lessors expand and grow across Europe, Leasing Life reports on three territories on the fringes of Europe currently offering tempting opportunities to the more ambitious lessors. It would seem natural to think that Massimiliano Moi, CEO of UniCredit Leasing, Europes second-largest leasing company, would be licking his wounds following the buffeting he and his company would seemingly have received at the hands of the recession.
SG Equipment Finance tops UK public sector lease table
The greatest market share of public sector leasing is now held by just a handful of major leasing companies, according to figures released by consultancy Digital Networks Ltd. Figures for the year ending 31 March 2010, based on data published in the Official Journal of the European Union, show SG Equipment Finance holds the largest market share by value at £18.2m (20.6m), while JCB has the largest share by number of contracts, with 43.
Britain’s largest telecoms leasing scam back in court
As the prosecution of Business Telecom directors restarts, Claire Hack talks to lessees and lessors about how they have been affected by the debacle. The number of allegations of deception against Business Telecom Ltd continues to grow, as a Trading Standards investigation into allegedly fraudulent leasing deals linked to the company comes to court. Three Business Telecom employees appeared on trial at Norwich Crown Court at the end of April, including the companys MD, Christopher Boughton-Fox.