Usually this column is a place to pick over the nuts and bolts of the asset finance market, and for the past few months has been in the very capable hands of my deputy Grant Collinson.This month, however, I’m going to use this space to talk about the more social side of the business.
Like many of you, I recently had the privilege of attending the annual Finance & Leasing Association Dinner at London’s Grosvenor House hotel, and was amazed yet again at the FLA’s ability to fit more people comfortably into the building’s interior each year.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
It was a superb night, and all I can say against it is that I’m profoundly glad it only happens every twelve months: I don’t think I have the stamina to do it any more often.
The fact that it is such an energetic (and potentially metabolically punishing) night is not only cause or good fun – it reflects an increasingly buoyant mood in the UK lending industry.
I remember the first time I attended the dinner, in 2009, right as the financial picture looked at its very bleakest for anyone involved in lending.
The atmosphere was very definitely subdued and nervous, and the room was nowhere near as full as it was this year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataNow, the crowd at the event feels like a group of successful businesspeople again, rather than embattled survivors.
In his speech to the throng, FLA chairman Philip Ross highlighted asset finance business volumes, which were up 5% in 2012 to £21.4bn (€24.7bn) and now account for 28% of annual UK fixed-capital investment.
Another record, and one that is testament to the scope of the FLA’s reach, was the 1,400-plus attendance from across the UK asset, consumer and motor finance industries.
As I was there in my capacity as both editor of Leasing Life and its sister title Motor Finance, which covers UK retail motor finance, I was potentially acquainted with two-thirds of this congregation. (My dual role is also the reason this column may sound a bit familiar to some of you.)
After dinner, and a revealing speech during which Martin Wheatley, chief-to-be of the Financial Conduct Authority, gave an encouraging – if somewhat shaky – speech on his willingness to listen to the FLA and its members as the new regulator is shaped, I must have shaken hands with scores of friends and colleagues.
All too often, however, the sad truth was that the words "we must catch up later on" were the last words uttered by either party before becoming lost in the crowd.
It is always a great thing to see so many friendly faces, but it’s equally frustrating to leave almost every conversation of the evening half-finished!
That is the price one pays, however, for an event that is just so bloody popular. Here’s to its continued success, and the industry growth that makes it possible.
Fred Crawley
Fred.Crawley@timetric.com
