All articles by Janet Du
GE Capital buys Crédit Agricole’s Eurofactor
GE Capital has acquired the UK invoice discounting and factoring arm of Crdit Agricole Leasing & Factoring (CAL&F) for an undisclosed amount. Reading-based Crdit Agricole Commercial Finance UK, formerly known as Eurofactor UK, is ranked ninth in the UK invoice finance market
Editor’s letter: What are customers thinking?
The summer holidays are in full swing and Leasing Life is out just in time to make it into our suitcases and onto the beach. This issues contents are only a part of whats been on industry minds in the lead up to the break
Leasing Life Awards 2011 – announcing the finalists
Leasing Life is pleased to announce the finalists for the Leasing Life Awards 2011, exclusively sponsored by CHP The list was drawn up from a plethora of stellar nominations and chosen on the basis of the most stand-out contenders
Heidelberg’s operating income increases
Operating income at Heidelburg Groups financial services division increased by 7 million year on year to 18 million at March 31 2011. The international printing specialist attributed this growth to improved underlying conditions in the sector combined with intensive management of accounts receivable The growth is despite sales dropping to 16 million, compared to the previous years figure of 19 million.
Bluestone makes two new hires
Bluestone Leasing has hired two new business relationship executives, who will be based in the UK leasing companys Wakefield head office The hires are in response to significant growth witnessed by the company over the last 12 months and will see the executives supporting new business wins. Recent graduates Sophia Boutalbi and Shagufta Zahur will be responsible for liaising with existing clients, new business development and ongoing customer service to end users and vendors.
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CIT’s former MD and CFO join Dell
Cormac Costelloe and Colin Keaney have joined Dell Financial Services (DFS) to set up a wholly owned captive finance company. Costelloe joins as general manager of DFS EMEA and Keaney joins as chief financial officer of DFS EMEA. Both were previously with CIT Vendor Finance and departed the firm in January 2011
Bank asset finance arms see growth
The asset finance businesses of some of Europes biggest banks have made a strong start to the year
Editor’s letter: deals in the waiting room
During the week Leasing Life went to press, news of two potential M&A deals in the car leasing sector pointed to the fact things could be heating up. The questions that come up are whether two deals might be too much for the market too soon and which RBS selling Lombard Vehicle Management or ING selling Car Lease has a better chance of going ahead.
SGEF’s Mignerey to retire
Jean-Marc Mignerey is retiring from Societe Generale Equipment Finance, where he is chief executive officer, Leasing Life can reveal. The bank is expected to make a formal announcement regarding his departure in mid-September. He will be replaced by Marie Christine Ducholet, global co-head of Strategic and Acquisition Finance at Societe Generale.
Banks’ asset finance arms see growth
The asset financebusinesses of some of Europes biggest banks have made a strong start to the year with some reporting double-digit growth in the first six months in contrast to struggling retail bank divisions. Lombard, the asset finance business which is part of Royal Bank of Scotland bank – which is 84% owned by the UK taxpayer – has said that it will lend more than £5bn to British businesses over the next year up 20% from the previous year