Key Equipment Finance has begun consultations
with staff in offices across Europe in a proposed restructuring in
the region.
The moves may include the run-off of the
Nordic book and closure of the operation in that territory.
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The company declined to comment about the
specifics, but said in a statement:
“Like most businesses, Key Equipment Finance
continually analyses and updates the strategic direction of the
company to best align with changing market dynamics. As such, we
are currently evaluating several options that will enable us to
best meet client needs and ensure the continued delivery of strong
business results to our parent company, KeyCorp, and its
shareholders.”
A new Oracle lease management system, which
enables centralised administration of leases, was introduced over
the New Year period, meaning that some local roles may become
redundant. The system went live in the southern region covering
France, Italy and Spain, and in the Nordics, covering Denmark,
Norway and Sweden. It was already used in Benelux, Germany, and the
UK, and Ireland.
The restructure is thought to affect European
management and remarketing as well as operations and finance.
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By GlobalDataThe finance function for the Nordic region was
partially moved to the UK some time ago.
