restructure
Bibby Leasing has increased tenfold the size of deals it receives
from brokers.
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The move follows the merger of Bibby Leasing and Rickmanworth-based
Bibby Asset Finance into the one division headed by Carol Roberts,
the former head of Leeds Leasing, which Bibby Financial Services
acquired in October 2005. Yorkshire-based Bibby leasing is now
willing to receive deals from brokers worth £1m, whereas previously
it capped them at £100,000. Its broker division is its largest,
representing some 60 per cent of the total business. Other
divisions include materials handling, which it launched on April 1
under the leadership of John Bradshaw, and sales aid to catering,
hospitality and leisure businesses, which deals direct with
suppliers and manufacturers. It also provides one-third of the
financing required by Subway, the sandwich chain, to fit out with
equipment its 1,000 UK stores. Bibby Asset Finance’s office closed
on August 3 this year and some of its 10 strong team, including
Mike Deacon, its managing director, were made
redundant.
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