All articles by Ronan Mccaughey
Bibby names new global chief
Simon Featherstone is to replace David Robertson as global chief executive of Bibby Financial Services following Robertsons retirement at the end of 2011. He will join Bibby Financial Services in September 2011, before succeeding Robertson as global chief executive in January 2012.
Broker figures fuel optimism
Broker-introduced asset finance rose to £714m (808m) in the three months to February 2011 a 31 percent rise compared to the same period last year, according to the Finance & Leasing Association (FLA) Julian Rose, head of asset finance at the FLA, described the figures as encouraging because they show that small businesses are looking to invest in new equipment and are using asset finance.
Editor’s letter: A time for direction, not dithering
The delay of the proposed new lease accounting standard deprives the leasing industry of certainty and clarity at a time when precise information and harmonisation are essential for market players to plan ahead Keeping up with the sheer volume of regulation is never an easy task, and regulators need to realise that consistency is vital in order for providers to understand and apply new rules. It is better to have good regulation that commands the respect of the leasing and asset finance sector than one, which is hastily assembled to meet an arbitrary timeline
Tech arm of BNP Paribas Leasing Solutions launched
A specialised arm of BNP Paribas Leasing Solutions offering large and medium-sized Belgian companies services for the rental and management of technology assets has been launched Technology Solutions Corporates offers services for assets including telecoms, printing and audiovisual equipment, as well as specialised equipment, such as embedded technology, and medical equipment
Royal wedding impacts broadcast leasing provider
The managing director of media and broadcast leasing provider Azule Finance has spoken of the business opportunity presented by the royal wedding on 29 April Azule Finance provided the funding for Pro Motion Hire, a broadcast equipment hire company, to invest over £400,000 in a fleet of cameras to meet the hire demands of international broadcasters, such as Network 10 in Australia According to Pro Motion Hire, it has experienced a 50 percent rise in camera hire compared to April 2010, as global broadcasters prepare to report live from the wedding in London
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GE Capital seals major leasing deals
GE Capitals Germany equipment financing division, DISKO, has signed equipment leasing contracts worth a combined 7.8 million (£6.9 million) with Pfenning Logistics. With the agreement concluded, this will support the on-going growth of Pfenning, including the additional purchase of 70 new refrigeration units, which will be installed on existing vehicles.
Asset finance boost for eco-friendly company fleet
Climatecars founder Nicko Williamson has secured £200,000 (225,274) through the asset finance side of Clydesdale Bank to expand his companys fleet of eco-friendly hybrid cars Climatecars is set to grow in the financial year 2011-12 by adding a further 45 cars to its fleet using the line of credit from Clydesdale Bank The partnership between Climatecars and Clydesdale Bank begins this month when Climatecars moves its commercial banking to Clydesdale as part of their agreement.
BVRLA highlights EV knowledge gap
The vehicle rental and leasing industry has called for manufacturers to provide fleets with more detailed operational guidelines for electric vehicles (EVs) According to the BVRLA, its members have scant information to go on when trying to set residual values or predict maintenance and repair costs for electric vehicles. Due to a lack of historic information, we are out of our comfort zone as we are unable to rely on factual information, including gut instinct, said Phil Turle, fleet services controller at ALD Automotive, speaking at a recent electric vehicle event attended by delegates from the BVRLA Technical and Operations Forum.