Ian Isaac, Lombard’s interim managing director, is the latest governor to join the Leasing Foundation.

Isaac’s predecessor Andy Hart joined the not-for-profit organisation in October and continues as a governor despite leaving Lombard, and the leasing industry, in March.

Isaac, quoting research from Lombard, recently stated that one in three UK businesses is in "survival mode" and having to turn down new orders due to a lack of investment in capital equipment which he said was costing the UK economy around £5.4bn a year in lost orders.

Tarun Mistry, one of the Foundation’s directors, said: "As Lombard’s own research reveals, there is a low level of awareness of asset finance by UK businesses, and we look forward to working with the industry to develop strategies to increase that awareness."

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