Patrick Jelly has taken up the role of president of the Captive Forum as part of changes to the trade association’s board.

Elliot Lennick, vice president and head of International Sales, MAN Finance International, has been elected chairman of the group for a two-year term while Nils Jaeger, vice president of International Finance at John Deere, has been appointed to the newly created role of vice chairman.

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After a number of years as chairman, Jelly, vice president of Pitney Bowes Financial Solutions Europe and co-founder of the Captives Forum, has been appointed president in recognition of his work in establishing the organisation.

Jelly said: "Bret Thomas [chief executive of Xerox Global Leasing Group] and I founded the Captives Forum in 2007 based on the belief that we could share ideas and best practice with captive finance companies in an environment that facilitated open discussion.

"We have been delighted with the progress we have made and the introduction of new members who share these beliefs and have made a significant contribution to our Forum over the last six years.

"I intend to remain closely involved and am delighted that we will continue under the strong support and guidance of Elliot and Nils, two senior leaders from the European captive’s industry."

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Lennick, who has been on the Forum’s executive committee since its inception, said: "Patrick’s contribution has made the Captives Forum a recognised body within the European leasing community. The respect that we have gained within the industry is through Patrick’s endeavours.

"As Chairman for the next two years, I aim to carry on with the vision both Patrick and Bret had in 2007 and will continue to look for new members that share our manufacturing parentage and international focus."

Alan Leesmith, secretary of the Captives Forum, said the increase in membership and the resultant increasing workload was why the Forum’s executive committee and set a fixed term of two years for the chairmanship and created the vice chairman role.