The inevitability of increased regulation for UK lenders will require major planning and resource allocation by asset finance executives, according to Neil Davies, CEO of Close Brothers’ commercial division.
Davies made the comments during a 30-minute interview with Lindsay Town, the CEO of IAA-Advisory, as part of a series of discussions with UK leasing sector executives, that will be streamed on 25 March at 1pm.
During the interview, Davies described asset finance as a huge area of the UK economy that sometimes goes unnoticed, including by the government, so that in framing regulation, “we sometimes get caught in the unintended consequences of other actions.”
Davies added: “Asset finance is a very useful conduit for UK industry – that engine being properly funded in the right way and with the right type of funding.”
Davies and Town also discussed the challenges of forming and maintaining partnerships and joint ventures, what’s being done by the sector to bring in fresh talent, and the fascination versus the reality of pay-per-use models.
The two industry stalwarts also engaged in crystal ball gazing when they considered the contours of the post-lockdown landscape and what challenges a return to offices by the workforce, having worked from home for more than a year, might bring for employers.
The pre-recorded chat is the second in a series of similar interviews that Lindsay Town will be hosting scheduled into July and are sponsored by LTi Technology Solutions, a US-based global provider of in-the-cloud asset finance technology.
“Although LTi is a sponsor of this event, we wanted to hand the interviewing to a seasoned industry professional, so we’re proud to say that Lindsay Town, with at least 45-years’ experience under his belt in various leadership roles, agreed to do this for us.
“We know he’ll generate good debate and get the best out of the captains of industry we’ve lined up in the weeks ahead,” said Robert Taylor, UK country manager for LTi Technology Solutions.
LTi Leasing Leaders Series
The ‘LTiConnections: Leasing Leader Series’ interviews are free to watch and will be followed by a live Q&A session with the interview guest and interviewer, alongside LTi’s Taylor. Registration is required.
The opening discussion, held on 4 March, was with Sam Geneen, chairman of Start Asset Finance. Future events will feature, John Jenkins (CEO of Haydock), Mike Randall (CEO of Simply Asset Finance), Kerry Howells (CEO of Tower Leasing) and Roy Royer (Head of Europe at Somerset Capital).
Taylor said: “Our series of talks have been structured to tackle the most pressing and current topics that our industry is facing today. The idea is to examine the key changes the industry has seen in the last year and to consider the challenges ahead.
“We want to appeal to new recruits in asset finance as well as explore the essence of being a leader in this industry,” said Taylor.
The next event will be streamed live on 25 March at 1:00 pm UTC. Click HERE to register for the Zoom Webinar.