All articles by Grant Collinson
Grant Collinson
Arval UK reshuffles executive team
Fleet lessor Arval has appointed Robert Pieczka as business development and marketing director to its UK division which has also split its sales function along corporate and SME lines. Pieczka joined Arval UK after the sale of the BNP Paribas-owned firms fuel card business AllStar which he had headed since April 2011. Before being appointed managing director of AllStar, Pieczka was marketing director and member of the executive committee at the fleet lessors French headquarters in Paris.
Greek debt and strategic refocus lead to loss at CAL&F
A loss at Credit Agricole Leasing & Factoring (CAL&F) contributed to dampened profits at the French banks Specialised Financial Services despite a slight revenue increase. The Credit Agricole Group recorded a 1.1bn loss for 2011 as a result of its exposure to the Greek debt crisis. The banks Specialised Financial Services division remained in the black but took an 82.1% cut in profits from 2010.
Basel III to challenge SME credit access
The implementation of Basel III is likely to have a disproportionately negative impact on SMEs access to credit, making it important to develop alternative funding methods such as leasing. That was the conclusion of the European Association of Craft, Small and Medium-sized Enterprises (UEAPME), the Association of Chartered Certified Accountants (ACCA) and Leaseurope, following a debate on the impact of the impending capital requirements regulation. The three bodies discussed how Basel III and the European Capital Requirements Directive (CRD IV) would effect lending to small business and considered the trade-off between safeguarding against future financial crises and protecting the interests of SMEs.
Fleet Friday: LeasePlan, Arval & Alphabet
The UK division of European fleet lessor LeasePlan has launched its expanded 12-strong remarketing team with the intention of maximising second-hand values.
Eurozone cuts profit at SG Specialised Finance
Socit Gnrale experienced a sharp drop profits in 2011 as a result of the eurozone crisis and, although the damage was less severe, the leasing units were not immune. Net income was down to 297m compared to 343m for the year and the division experienced a 22.3% year-on-year drop in income in the fourth quarter, down to 73m from 94m in 2010.
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Second-half revenue rise for Linedata
A dramatic boost in revenue in the fourth quarter has helped leasing software firm Linedata to record revenue in 2011. The France-based financial software firms revenue grew 1.2% year-on-year, helped significantly by an 11% surge in the second half of the year, up 4.3% in the third quarter and 18.1% in the fourth quarter. In a preliminary statement ahead of the release of its full annual results in March, Linedata revealed total revenue of 137.8m for 2011 compared to 136.2m in 2010.
First software launch for Cassiopae in Tunisia
Leasing software provider Cassiopae has implemented its front and back office systems V4 with Tunisian market leader, Tunisie LeasingIt is the first time Cassiopae has installed its lease contract management software in the North African state since setting up a Middle East and Africa subsidiary with African consultancy OXIA Tunisia Group in January 2010.
Double-digit growth for UK asset finance
UK leasing continued an upward trajectory in 2011 with 10% growth in finance deals of up to £20m, according to the latest figures from the Finance & Leasing Association (FLA). FLA members wrote £19.5bn in sub-£20m asset finance in 2011 with the biggest growth in commercial vehicle finance which grew 22% to £4.4bn compared to 2010. Other asset classes also experienced growth with business equipment finance up by 15%, plant and machinery finance by 12%, IT equipment finance by 8%, and car finance by 4%
Trio of partnerships for The Asset Works
Leased asset management firm The Asset Works has forged three partnerships this week to offer their valuation services to across the European leasing industry.The UK-based company teamed up with global advisory firm Jones Lang LaSalle, leasing software business NetSol Technologies and UK IT lessor Syscap to implement its assetaware software.
Beselaere appointed new head of ING Lease
Patrick Beselaere has replaced John Howland-Jackson as head of ING Lease in the lessors core markets. Beselaere, in addition to his current role as chief executive of ING Lease Belgium, takes the reigns with immediate effect as Product Head of General Lease. He will take responsibility for the General Lease product in INGs home markets of Belgium, Luxembourg, Netherlands, Poland, Romania and Turkey, and other core markets in the Czech Republic, Slovakia, Ukraine and United Kingdom.