All articles by Grant Collinson
Grant Collinson
Recruiter takes stake in broker
Opus Mitchell, the financial sector recruitment firm, has taken a 20% stake in asset finance and leasing company Associated Commercial Finance (ACF). ACF is an independent finance broker providing asset and leasing finance and commercial banking facilities specialising in the commercial vehicle and construction sectors.
BNP Paribas top Euro leasing table
BNP Paribas Equipment Solutions (ES) has topped the table for leasing in Europe for the second year in a row. The French banks leasing arm was the number one European leasing company in the Leaseurope Ranking for 2010 based on the number and worth of new contracts.
GE Capital looks at Lombard VM
RBS has put Lombard Vehicle Management up for sale, with GE Capital rumoured to be in negotiations for the purchase. The 84% tax payer-owned bank intends to sell the unit as part of a commitment to reducing the balance sheet by shedding non-core assets. The sale will include car and van leasing arm Lombard Vehicle Management only and RBS will retain the remaining Lombard businesses.
Lloyds TSB finance deal in 24hrs
Lloyds TSB Commercial Finance has provided an asset finance facility for Newton Abbot-based groundworks firm Tanner and Bruce. Lloyds TSB to helped fund the capital outlay for a new excavator which Tanner and Bruce required to fulfil a series of new contracts
Alphabet restructure senior management
The UK arm of fleet leasing company Alphabet has changed its board, including the creation of a chief executive position. Richard Schooling has filled the CEO role, replacing out going director Mark Sinclair, and has appointed a new chief financial officer (CFO), chief operations officer (COO) and sales and marketing manager to his board.
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Clydesdale & Yorkshire Bank expands asset finance service
Clydesdale & Yorkshire Bank Corporate & Structured Finance (CSF) has expanded its services with the launch of a new corporate asset finance team. The new service will provide funding for a wide range of assets to mainly listed companies and large privately owned businesses.
ING group in talks to sell off Car Lease arm
ING Group is negotiating the sale of its ING Car Lease arm in a potential transaction that could reportedly be worth 4bn. The Dutch bank confirmed the sale of its vehicle leasing unit was a possible option and said it was “reviewing strategic alternatives” for the division.
UK small businesses opt for purchasing over leasing
The UKs small businesses prefer to purchase their vehicle fleet rather than use the lease option favoured by medium-to-large companies. Research by the Corporate Vehicle Observatory (CVO) shows 62% of small businesses with up to 100 employees purchase vehicles outright, with a further 10% purchasing using car credit. Only 28% of similar-sized companies, the survey found, are funding their vehicle fleet through a finance or operating lease.
Asset finance best for business
The latest business health index from commercial finance broker Hilton-Baird Financial Solutions gave companies using asset financing a score of 0.70 compared to 0.35 overall.
Siemens wins Thameslink rail contract
The UK governments TRSP, led by the Department for Transport (DfT), covers the delivery, maintenance and financing of around 1,200 vehicles and the construction and financing of two depots for the £6bn (6.7bn) Thameslink rail network upgrade.