Based in Chester, the business is effectively a continuation of HBOS’ high-end transport leasing business, typically targeting customers turning over more than £5 million (€5.4 million) and with a fleet of more than 50 vehicles.
“Nine months ago, we had two options: either to lift and drop the HBOS transport business into another bank, or to replicate it as a broker/consultant and do it ourselves,” said Phil Snewin, a T&L director and formerly head of the transport and logistics team at HBOS.
“People like to deal with people. The proposition to our customers is we can carry on looking after their needs – and HBOS does not mind us doing this.”
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According to Snewin, they used to write around £200 million per annum at HBOS. Now, T&L’s objective is to write around half of that amount.
“We are not trying to reinvent the wheel,” said Snewin. “We are just trying to deal with people we have been looking after for the last 10 years.”
Having signed a panel of funders hungry for good business, T&L is quietly confident it will reach its objectives.
