All articles by Claire Hack
Claire Hack
BVRLA bid to help funders
The British Vehicle Rental and Leasing Association (BVRLA) has launched a steering group aimed at developing the availability of competitively-priced funding for the vehicle rental and leasing industry The Funding Steering Group will work to help existing and potential funders to understand the industry better, including its risks and rewards.
GE Capital boosts corporate structured finance team
GE Capital has appointed Neil Kerridge as originations director at its corporate structured finance team. The move is part of a bid to strengthen GE Capitals capabilities as it focuses on supporting UK businesses with a major presence in Europe. Kerridge will be based in London andwill develop new business opportunities, domestically and cross-border, in structured asset based lending (ABL) and invoice finance
DLA Piper strengthens asset finance team
DLA Piperhas recruited Alan Cunningham as a partner in its asset finance team. Cunningham joins from DWF, where he held roles including head of asset finance and head of banking and finance He will now lead the Manchester-based asset finance team at DLA Piper, and will focus on large national and international transactions
Canadian players target Europe
Vancouver-headquartered Ritchie Brothers Auctioneers is to team up with Canadian funder Travelers Financial Group to provide financing in North America and Europe. The new venture will offer leasing and financing options to all Ritchie Brothers auction customers from SMEs upwards
Zenith Provecta seals fleet deal with Greene King
Fleet funding and management company Zenith Provecta has a signed a deal with pub retailer and brewer Greene King for the management of 300 company cars and 100 cash allowance drivers. Greene Kings cash allowance drivers will be managed through Zenith Provectas web-based Cash Allowance Management System (CAMS), which deals with the financial and health and safety considerations of drivers not using traditional company cars
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Hurdles to renewable energy
The government has already said in its Comprehensive Spending Review that a reassessment of the FIT scheme, due to take place in April 2012, could be brought forward to this year if there is a higher than expected uptake.
Smart meters
The UK governments plan to roll out 53m smart meters in 30m homes and businesses remains a source of controversy among both funders and energy suppliers. The devices, which record energy consumption in real time, present a number of issues in terms of financing as they are significantly more expensive than traditional meters and will also need to be replaced if consumers change supplier.
EIB’s ?400m boost for Italian leasing
The European Investment Bank (EIB) is to provide credit lines worth 400m each to Italian banks UniCredit and Intesa Sanpaolo, to be passed on to small and medium-sized enterprises in Italy.
IGF reports small revenue increase
Revenue at IBM Global Financing (IGF) rose slightly during the year to 31 December 2010 compared to the year before, according to its consolidated financial results.
Microlease continues growth drive
Test equipment lessor Microlease has acquired the entire share capital of Hampshire-based Hamilton Hall Consultants, an asset management software firm The acquisition aims to boost Microleases asset management revenues, as well as strengthen the software and systems available to the customers of both Microlease and Hamilton Hall