bank, and equigroup, the hi-tech and medical equipment financiers,
went live in October. The partnership will be worth approximately
£100 million (€124.72 million) per year to equigroup.
The company, which established
itself in the UK in 1998, will be gradually rolling out the
partnership and started in Finland last month. This will be
followed by Sweden this month, Denmark and Norway in January, and
the Baltics around April next year.
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The financier is 50 percent owned by
the Commonwealth Bank of Australia, which, according to Ruth
Chilvers, European head of sales at equigroup, was a major
advantage in winning the bid.
“Nordea is looking to do between €100
to €200 million of business per year, and wanted a sustainable
partner in the long-term,” she said. “Not only do we have the
strength of the CBA’s balance sheet, but we also have the advantage
of achieving higher residual values and having successful previous
partnership models.”
In the UK, equigroup has an exclusive
partnership with Barclays, in Ireland with AIB and in Spain with
BBVA. The company will work very closely with Nordea, having hired
four Nordea staff to help manage the account. They will be based in
the Nordics and liaise with Chilvers, who is based in London.
Chilvers sees the public sector as its core market in the Nordics.
Using equigroup, Nordea has just won a deal in Finland to finance
5,000 assets for a public-sector body next year.
Jason T Hesse
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