Move to HP follows
restructuring of Microsoft’s vendor finance programme. Claire Hack
reports.
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Nigel Jenkins, former head of Microsoft
Financing (MSF), has jumped ship to join Hewlett Packard Financial
Services (HPFS).
Jenkins is now believed to have the job title
of European sales director at the leasing arm of the global IT
giant.
Both MSF and Jenkins have offered little
comment on the departure, but confirmed the move had taken
place.
Jenkins added there was “substance to the
rumour” that he is to take on the role at HPFS.
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By GlobalDataMSF declined to comment on whether he would be
replaced and by whom, and did not confirm when the move took
place.
Jenkins’ move comes amid a raft of deals being
set up in the wake of the break-up of MSF’s vendor finance
programme.
It also follows MSF’s decision last year to
end its relationship with CIT.
In March, it was reported that SG Equipment
Finance was the latest company to scoop a deal to provide finance
to the software company’s customers.
Paris-based SG now provides finance to major
clients of the Microsoft Enterprise and Partner Group in France,
Germany, Italy and Switzerland.
It also won MSF’s Brazil contract, while BNP
Paribas Lease Group (BPLG) won a deal to provide finance to SME
customers and resellers in the same four European countries.
Dutch lessor De Lage Landen (DLL), which
originally bought the whole vendor programme from CIT, announced in
March that it had won the contract for the UK and Canada.
This followed an earlier announcement that DLL
had won Microsoft’s vendor finance contracts in Spain, the
Netherlands and Belgium, as well as Australia and New Zealand.
Throughout these changes, Jenkins remained
in situ as managing director of MSF in Europe, the Middle
East and Africa and was tasked with “shaping the direction and
strategy of Microsoft Corp’s customer financing programs in the
region”.
He joined the company in 2008, having worked
for the previous seven years at Cisco Systems, where he was in
charge of the service provider team and opening and building the
new emerging markets operation, as well as being sales director in
Europe.
The former professional cricketer and rugby
player had worked at MSF for about two years before his
departure.
He started at Cisco in 2001 and took up three
roles there, having left his previous position as European sales
and marketing manager at El Camino Resources in 2000.
The world’s second-largest captive IT leasing
company, HPFS saw its net revenue drop 0.9 per cent in 2009 from
2008, but it is still around the $2.7bn (€1.99bn) mark.
The decrease was caused by “unfavourable
currency movements”, according to HPFS’ annual report for 2009.
Earnings from operations rose by 0.6
percentage points to $206m and represent 7.7% of net revenue.
Its total financing originations stood at
$5.2bn for the 2009 financial year ending on 31 October, up from
$4.9bn in 2008. Revenue generated by HPFS and “other” represented
two per cent of HP’s total revenue in the 2009 financial year.
HPFS was not available for comment on Jenkins’
move from MSF at time of writing.
