Leasing Life’s monthly summary of the key career moves in the leasing and finance industry
Rivers Leasing appoints Bassett non-executive director
Rivers Leasing has appointed Stephen Bassett, the former managing director of Arkle Finance, as non-executive director.
Bassett brings more than 40 years of asset finance and leasing sector experience to the organisation, with much of his career covering senior management and directorship roles at organisations including Schroder Leasing, Lloyds & Scottish Finance, Lombard, Wyse Leasing and Broadcastle.
Invigors promotes O’Brien to Ireland network member
Invigors, the European consultancy arm of the Alta group, has promoted Kieran O’Brien to network member for Ireland.
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O’Brien first joined Invigors as an associate in December 2016, based in Dublin. He came from a 25-year career in asset finance, with 17 years at Cisco Capital.
Before moving to Invigors, he was Cisco’s operations director for Europe, the Middle East, Africa and Russia. During his tenure, he developed Cisco’s captive infrastructure in 20 countries, and sat on the boards of 10 of the company’s captives.
Falcon Group recruits former Bibby CEO for expansion
Corporate lender The Falcon Group has appointed Steve Box, former chief executive officer of Bibby Financial Services, as head of business development for the UK and Europe.
His appointment comes as the Falcon Group seeks to expand its mid-corporate finance business outside its traditional markets of the Middle East and Asia.
Box’s 38-year career, which also includes time with HSBC, has focused on trade, equipment and supply chain finance. He was Bibby’s head between January 2015 and June 2017, with a remit that initially covered Europe only, and subsequently came to include Asia and North America.
Praetura promotes Simmons to board as sales director
Praetura Asset Finance has promoted Ric Simmons to the company’s board in the newly created role of sales director.
Simmons has had a 15-year career in asset finance, and is part of the team that originally established Praetura five years ago. Previous roles include corporate development manager at Haydock Finance and broker relationship manager at Close Business Finance.
Bibby FS appoints UK specialist director
Bibby Financial Services has appointed Kash Ahmad as UK specialist director.
Ahmad comes from a 25-year career in executive positions in the UK, Middle East and Asia, dealing with SMEs, mid-sized businesses and large corporates. Previous roles include chief risk officer at Barclays Bank Pakistan, managing director of inward business for Barclays’ UK global corporates division and, most recently, managing director of global transaction banking at Lloyds’ commercial banking arm.
Ahmad officially began in his new role on 1 January. He oversees 100 people in dealing with finance for trade, exports, construction and recruitment.
New FCA chair named
HM Treasury has appointed Charles Randell as the new chair of the Financial Conduct Authority (FCA). He will take up the role on 1 April on a five-year term when current chair John Griffith-Jones steps down.
Griffith-Jones was first appointed to the FCA as chair on 1 April 2013. His term was also for five years, and in June last year he announced his intention to leave the organisation at the end of this period.
His time at the FCA saw it expand its scope to include regulating the consumer credit industry, including motor finance. His tenure has not been without controversy, however, with his time as chair at KPMG when the business was auditor of HBOS in the period leading up to the recession often brought up.
Ex-Metro director to head new lending business
City of London Group (COLG) has recruited former Metro Bank managing director Jason Oakley to build a team for a new property and financial services business.
The group has applied for a banking licence for the business, which will focus on commercial, SME, bridging and development finance. While in charge of commercial banking and mortgages, Oakley grew Metro’s lending business from £65m (€73m) to £2.5bn within three years. Before his tenure at Metro, he was head of SMEs at NatWest and RBS.
Oakley to will be aided by Bryce Glover, who has held a 36-year career in corporate and commercial banking. He was managing director of commercial banking at Alliance & Leicester, and retained the position after the acquisition by Santander. In 2009 he became director for Nationwide’s commercial division, and was subsequently appointed as corporate affairs director in 2014. He is also a non-executive director at Newcastle Building Society.
As part of the agreement with COLG, Oakley and Bryce received £400,000 and £50,000 worth of shares respectively.
Arval appoints Cabaça as UK managing director
BNP Paribas’s Arval has appointed Miguel Cabaça as its managing director for the UK.
He has replaced Benoit Dilly, who had held the position since 2013. During his tenure, he successfully oversaw the integration of the GE Fleet business, which Arval says allowed the size of its leased fleet to double to over 160,000 vehicles. Dilly has now taken up another position within the BNP Paribas group, which saw him move to Paris.
Cabaça officially took up the position in November, having moved from the role of director of private lease at Arval, based in Paris. He has also held several management positions in BNP Paribas Personal Finance, which he joined in 2000.