All articles by Grant Collinson
Grant Collinson
Syscap hire Dunne as CFO to exploit growth
IT financing house Syscap has appointed Steven Dunne as chief financial officer with a view to capitalising on growth. Dunne joins from debt recovery and management agency Credit Solutions where he led the successful sale of the business to arvato, a division of German media company Bertelsmann John Allbrook, executive chairman of Syscap, said it is experience in engineering profitable growth with Credit Solutions and exploiting opportunities he hopes Dunne will bring to the company.
Hitachi fleet customers get EV charge points
Fleet customers of Hitachi Capital Vehicle Solutions can get an electric vehicle (EV) charging point installed at their homes or businesses when leasing an EV as part of a fleet In a partnership with British Gas, the UKs first between an energy company and a fleet leasing company, Hitachi customers can have a charging point installed as part of the lease contract and receive three years free maintenance from British Gas Home Electrical Care.
Rough seas sailing
Ship leasing is seen as being firmly anchored to wider economic uncertainty and as such will see a patchy recovery until global conditions improve Seafaring has long been a convenient source of financial metaphor; the global economy as tempestuous or calm, an investment as plain sailing or in troubled water.
DVB Bank sees income and lending rise
DVB Bank has recorded an income boost and increased lending during the first half of 2011. The Frankfurt-based bank which specialises in transport finance posted a 26.9% rise in consolidated net income before taxes to 74.9m compared with the first half of 2010. The groups transport finance division, which consists of shipping, aviation and land transport divisions, posted consolidated net income before taxes of 118.5m before deduction of costs.
Ian Isaac joins Lombard amid SME push
Ian Isaac has been appointed as managing director of Lombard Business and Commercial with a mandate to increase SME lending. With 20 years experience in SME financing including previous positions at Lombard, Isaac joins from parent bank Royal Bank of Scotland (RBS) where he was head of strategy, marketing and communications for Business and Commercial Banking. Isaac has identified growth in Lombards SME lending and promotion of the asset finance option as key targets in his new role.
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German leasing emerges from recession
After a shaky start the German leasing industry saw growth in 2010 which has continued into the first quarter of 2011. The annual report of the Bundesverband Deutscher Leasing-Unternehmen (BDL), the German leasing trade association, has shown the countrys equipment leasing market grew by 2.5% in 2010 as Germany emerged from recession.
Raiffeisen Leasing Bulgaria gets ?20m loan
The funds will be granted to Bulgarian companies to support the SME sector to allow them to purchase machinery and equipment, as well as creating new jobs and preserving the existingstaffing levels, Raiffeisen said in a statement.Raiffeisen Leasing Bulgaria was granted another 20m loan from the European bank for Reconstruction and Development (EBRD) in May for the same purpose.
New aircraft lessor Falko eyes growth
Falko was officially created on 15 July from the sale of BAE Systems Asset Management (AM) following a year of negotiations between aircraft manufacturer BAE, the management team who have bought the business and their 100% equity backers Fortress Investment Group. Chief executive Jeremy Barnes said the new company, with backing of the New York-based investment group, would unlock the potential of an ambitious team to grow the business in the long term.
Aldermore breaks even at £1bn asset landmark
Fledgling UK bank Aldermore has reported it now breaks even and has accumulated assets to the value of £1bn The Peterborough-based company lends to SMEs and UK homeowners and has increased its assets compared to the year end 2010, when the value of assets was £752m.
BMW Financial Services sees 95% profit rise
BMW Financial Services (FS) has posted a dramatic rise in pre-tax profits for the first half of 2011. The German car manufacturers finance and leasing division has recorded a 95.2% rise in pre-tax profit to 1.17bn up from 602m for the same period in 2010.