All articles by Grant Collinson
Grant Collinson
Co-op targets £1bn renewable energy lend
The Co-operative Bank has provided £500m in project and asset finance to renewable energy projects in the UK in the last four years. As it released the figures, which go back to 2007, the banking division of the Co-operative Group set a target to double the funding to £1bn by 2013
Russia pushes leasing volumes up across Europe
The European leasing industry experienced strong growth during the first six months of this year, largely due to a strong big ticket performance in the Russian market. The latest figures from the Leaseurope biannual survey show total new business volume across the continent stood at 115bn, up 10.1% from the 104.6bn recorded in the first half of 2010.
Fleet Logistics hire signals Nordic expansion
Andreas Sorensen has joined European fleet company Fleet Logistics as the company eyes growth in the Nordics region. Sorensens appointment as strategic implementation and account manager for the Nordics is part of a restructuring and expansion of Fleet Logistics regional operation. The Brussels-headquartered company, which manages more than 100,000 vehicles across Europe, recently opened new offices in the Finnish capital Helsinki after winning a 1,800-vehicle account with telecommunications firm Nokia Siemens Networks (NSN).
Leasing part of successful Q3 for GE Capital
A 55% jump in earnings from global lending and leasing has helped GE Capital to a surge in operating profit for the third quarter. The consumer lending and commercial leasing division of GE Capital (GECLL) made a $688m (493m) profit for the period to 30 September 2011, up from $443m for the same period last year. GE Capital, the finance division of US-based global giant General Electric (GE), reported a $1.47bn profit for the quarter, up from $818m for the same period in 2010.
Microlease buys MetricTest
As a result of the acquisition, Microlease anticipates its income in the US will exceed $50m (36m) in its current financial year and more than $90m (65m) in the following 12-month period, according to a statement released by the company.
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GE Capital boosts lease team & vendor web tool
GE Capital has recruited six new members of staff to its UK equipment finance team and performed an internal reshuffle with several more personnel. The appointments were made by Jon Maycock, commercial director for GE Capital UK Equipment Finance, who oversees the companys vendor partner, structured, aircraft, healthcare finance teams and business development activities. Maycocks role was newly created in February this year when leasing was identified as a vital to the growth of the GE Capital business in the UK
Harfield joins Investec to steer further growth
Wesley Harfield joins with 20 years experience in the asset finance industry to help grow the business through increased levels of origination within the broker, direct and vendor channels and will report to head of asset finance at the specialist bank, Mike Francis. Francis said: Wesleys appointment will help us to grow both our already very successful small-ticket broker business and our vendor business, based within our subsidiary Lease Direct Finance, one of the largest asset finance brokers in the UK.
Asset Finance brings Ultimate funding gain
UK broker Ultimate Finance has received a vote of confidence in its growth potential with a funding boost. The SME-focussed business has had the term of its £34m funding facility from Lloyds TSB Commercial Finance extended by a year The companys asset finance arm, Ultimate Asset Finance (AF), also received and increase on a current facility as well as a new funding agreement with Hitachi Capital.
Muselet takes the reins at CAL&F France
Crdit Agricole Leasing & Factoring (CAL&F) has appointed Bernard Muselet as deputy chief executive officer in charge of operations in France. Muselet will be responsible for CAL&Fs leasing and factoring business in the companys native France where it is the market leader and replaces Bertrand Chevallier who has moved elsewhere within Crdit Agricole. Muselet has held several roles within the European factoring industry since joining UFB Locabail in Lille as a sales manager in 1988
?150m loan to help CAL&F fund public projects
The credit line, which begins with an initial 37.5m loan, will enable CAL&F to help fund local authority projects in health, education and the environment.Crdit Agricole has stated that the development of the regions it operates in through social investments is a principle aim for the group and it will actively prioritise local authority projects.