Many of our readers working for large companies enjoy reading LW magazine each month in digital form, as it comes as part of their Corporate Subscription. However, as well as corporates, we'd like asset finance professionals as individuals to sample what the digital LW experience, so CLICK HERE to enjoy LW issue 111 (Yes, we've been publishing Leasing World for nearly 11 years!).
If you enjoy what you've read, then drop us an EMAIL HERE to find out our low-cost digital subscription offer, we'll do our best to make it worth your while!read more...
Congratulations to Mike Hartley, Managing Director of Praetura Asset Finance Ltd - British Business Bank Investments Ltd, the commercial arm of the British Business Bank, has announced an £18 million investment in Blackburn and Manchester-based Praetura Asset Finance. The investment, comprising £15 million of matched funding and an additional £3 million of expansion capital, will support at least £36 million of smaller business finance. This is the first British Business Bank Investments Ltd transaction to combine matched and unmatched funding in this way.read more...
The Brokers and Specialist Awards categories shortlists are:
UK INDEPENDENT LESSOR OF THE YEAR
Liberty Leasing Plc
BROKER OF THE YEAR Sponsored by Aldermore Business Finance
First Independent Finance
Premier Asset Finance
All the Leasing World Awards entries are in, and we can finally announce that we have sixty entries competing for seventeen Awards, and our congratulations to the worthy entrants. The judges are sharpening their pencils, and getting ready to apply their razor sharp criteria to the very high quality submissions in their category folders.
Our judges are scrupulously fair, sworn to confidentiality, and are duty-bound to raise their hands at the slightest possibility of a conflict of interest on any submission. There are six judges, split into two panels, chaired by John Bennett, our long-serving chairman and arbitrator.
It’s a competitive field in the categories, with established heavyweights pitted against up-and-coming contenders. Broadly speaking there are four groupings to the Awards:
1) Major Funders
2) Major brokers and Specialists
3) Service companies
4) Individual recognition
We shall be announcing the shortlist for each grouping day-by-day, starting today with the shortlist for the major funder awards. The Major Funder Awards categories shortlists are:
BUSINESS FINANCE CHAMPION Sponsored by Great American Insurance Group
Aldermore Business Finance
Hitachi Capital Business Finance
Siemens Financial Services
Grant Thornton has produced an analysis of the mechanics of leaving the EU, an assessment of some of the external factors that may affect our organisations over the coming months and years, and a summary of the different models for trading relationships outside the EU. It can be found on their website at http://www.grantthornton.co.uk/brexit
They urge organisations to consider not only legal and regulatory changes but also market reactions . .
In May’s Leasing World editorial comment I predicted a win for Remain with a 55pc-plus vote, otherwise there would be some serious Humble Pie consumed here. Well, I was wrong about the result and have consumed a goodly sized version of Humble Pie since, which wasn’t all that bad as I discovered that Humble Pie was historically a pie made by the medieval poor filled with whatever low quality scraps of meat that could be found, which I suspect makes it little different to the meat pies down our local pub, which is where I went to commiserate.read more...
Submissions have been flowing in for Leasing World Awards categories. With many still in the pipeline, judging by the number of individual requests we have received for extensions, the official deadline for Awards submissions has been extended to JULY 29th.
Hilton London Bankside, our new venue which can hold up to 280 people has already taken 250 bookings and this year’s Leasing World Awards sponsored by Hitachi Capital Business Finance will be the biggest yet! The venue has state of the art AV equipment and this year we will be featuring a LIVE TWITTER BOARD on the night so those guests that are tweeters can Tweet as they eat, watch this space for our Awards Dinner Hashtag. Is this the first leasing event to feature a live Twitter Board?read more...
Shawbrook Group plc (“Shawbrook” or “the Group”), the specialist lending and savings bank, has announced in a Trading Update ahead of its Interim Results for the six months to 30 June 2016, that as a result of irregularities in one office in the Asset Finance part of its Business Finance division, the Group expects to book an additional impairment charge of c.£9 million in Q2 2016 on impacted facilities of £14.7 million. The irregularities, which have now been rectified, were the result of a number of loans being underwritten in the Asset Finance business that did not meet the business's strict lending criteria.read more...
Paul Lynam, CEO of Secure Trust Bank has certainly enjoyed a Spring bank holiday blitz of press publicity. Firstly, we reported in May’s Leasing World that Paul would not “pay a penny!” to the Competition & Markets Authority’s (“CMA”) proposal for a website, paid for by the banks, for customers to compare the benefits of various bank accounts. Paul chairs the British Banking Association’s Challenger Bank panel . .
We had previously reported that Mike Randall, who needs no introduction, would be jumping out of a plane from 14,000ft in aid of Cancer Research UK in May, his goal was to raise at least £5,000 for this wonderful charity. Well, Mike now reports that he made it! Together with his colleague Steve Williams they have raised over £9500 for cancer research, and survived a sky dive. And we have pictures to prove it!read more...
If your business is in the intermediaries channel, and you are serious about your business, you really should consider attending or sending a representative this event.
Feeling FCA-ed out? You know what they say, once it starts, it never stops, but a unique aspect of the UK intermediaries channel is the desire on the part of funders and advisers to help brokers maximise their businesses within the gold plated standards required of the UK financial industry, of course the standards are high - we're in the most advanced financial environment on the planet.read more...
We know it’s not leasing per se, but Brexit is a most important issue on today’s business landscape so Leasing World are going to be writing about it. Where do asset finance professionals stand on this? John Allbrook, well-known to many in the asset finance industry through his top roles in Syscap, GoIndustry and GE Capital, is a Criticaleye Board Mentor and Non-Executive Chairman of Cellesce, a leader in the field of regenerative medicine research and process design. Here he presents his case for staying in the EU.read more...
In his Budget Review, George Tonks, of Invigors EMEA writes: There were many questions floating around ahead of this year’s Budget statement, primarily fuelled by two clear themes – the run up to the EU in/ out referendum in June, with associated questions around future leadership of the Conservative party, and the general deterioration in economic conditions, both in the UK and more generally since George Osborne’s last formal statement in November. In particular, some commentators were questioning whether the Chancellor would be forced to backtrack on some of his leniency in that last report, or to announce that the public finances would not move into surplus until after 2019-20 . .
BVRLA Chief Executive Gerry Keaney said: “While it may have been touted as pro enterprise and pro infrastructure, this Budget gives the rental and leasing industry plenty of cause for concern . .read more...
Commenting on the announcement in today’s Budget that regulation of Claims Management Companies ("CMC") will transfer from the Ministry of Justice to the Financial Conduct Authority (FCA), Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association, said:
“After many years of campaigning. .read more...
Commenting on the Budget announcement that the tax threshold for small businesses will rise to £15,000, Carl D’Ammassa, Group Managing Director of Business Finance at Aldermore, said, “The increase of the tax threshold for SMEs announced today . .read more...
Close Brothers Asset Finance (“CBAF”) has won the Best Customer Focus Category at the 2016 Best Business Awards. The Best Business Awards pride themselves on having a large panel of over 20 independent expert judges who select winners according to strict criteria for each category and sector.read more...
Investec Asset Finance plc (“Investec”) is now 10 years old, a proud milestone in the history of one of the leading funders in the market
The last 10 years has seen Investec provide over £3 billion in funding to SMEs, and consistently support the UK intermediary market. The business has built a network of over 200 brokers . .
Nearly a quarter of Asset Finance Brokers continue to use a 35 year-old gadget to help them calculate deals, a recent survey from United Trust Bank has found . .read more...
Hugh Sigrist founded Renaissance Asset Finance (“RAF”) in May 2014, and the business commenced lending in July 2014. The business has a core belief of visiting all its SMEs in the field at their operations, so they fully understand the requirements of the business and can then identify genuine funding solutions for the client, and this has certainly paid off, as BLME, through its Leasing division headed by Fred Yue, has agreed to acquire the company . . .
From its inception just over four years ago, VFS has built a portfolio of receivables across a range of law firms, funded by a mixture of equity, loan notes and P2P funds via Archover. Recognising the demands of a growing loan book and increasing demand, VFS decided to work with Asgard Partners to put a suitable structure together, which succeeded in securing an initial facility of up to £20 million from OneSavings Bank (“OSB”) . .read more...
International and EMEA leasing news is available on the Leasing World International APP for iPad, iPhone, and Android devices, and is free to download. For those looking to view on their PC . .read more...
Ultimate IFRS16 session . .read more...
Leaseurope is launching a series of roundtable meetings across Europe to discuss leasing as a key source of finance for SMEs. The aim is to explore the national SME financing landscape and improve the understanding of leasing as a valuable form of investment finance, as well as identifying any potential obstacles hindering its use by local SMEs and how these could be tackled at national and ultimately European levels . .read more...
Independent business funder, Bibby Financial Services (“Bibby”), has announced that Steven Box has taken on the role of International Chief Executive Officer. In addition to Bibby’s European businesses, as of 1 January 2016 he is responsible for operations in Canada, USA, India, Hong Kong, Singapore and Malaysia . .read more...
It has been widely trailered in the Dutch and international press that Rabobank Group is in preliminary talks with banks, institutional investors and private-equity firms that may bid for its leasing unit, De Lage Landen International BV, in a sale that may fetch as much as €4.5 billion, according to various sources.read more...
Leaseurope, the trade association representing the European leasing and automotive rental industries in Europe, has announced that its Board of Directors has unanimously appointed Leon Dhaene as Director General effective 1 December 2015. Leon Dhaene succeeds Tanguy van de Werve who left Leaseurope to join AFME, the Association for Financial Markets in Europe, to head their Brussels Advocacy Office.read more...
LeasePlan Corporation N.V has reached a record level of 1.5 million vehicles worldwide, a landmark it considers as confirming its global market leadership . .read more...
How much does it cost to get into a highly paid career in leasing, that has a touch of glamour about it? There is a way, so how might one go about it?read more...
In Vietnam, the HCM City People's Court has handed down death penalties to two former executives, one a leasing executive, for embezzling the equivalent of approximately $5.2 million and abuse of power while running state leasing companies.read more...
Agos Ducato (a subsidiary of Credit Agricole Consumer Finance) has become Sword Apak’s third Italian based client to date. Expanding its wholesale operations in Italy by introducing main dealers into its business portfolio, Agos needed a robust platform to support its expansion plans. Having reviewed the options, it selected Sword Apak to implement its state-of-the-art Wholesale Floorplanning System (WFS) v6. This is the second implementation for Sword Apak under the Credit Agricole umbrella with Netherlands based bank Ribank already a well-established WFS client . .read more...
Supposing a firm leases a fleet of cars from a lessor, and overnight all those cars have to be recalled for the same fault. The usual lease agreement says the lessee has to keep paying whether the asset is available to use or not.
But what if the lease is through the car manufacturer’s leasing captive?read more...
Did Google google their new name Alphabet before adopting the new handle? Because within a few hours of receiving the Google Alphabet announcement, our editor’s office received a terse email from Munich saying, “As being reported in the media, Google has founded a holding company called Alphabet. The website www.alphabet.com is owned by BMW Group . .read more...
GE has announced the $8.5 billion sale of GE Capital Healthcare Financial Services to US bank Capital One. This is less than the $10-$11 billion mooted in the press from “people close to the matter” just three or four weeks ago.read more...
Most people have heard of Uber, and know what it is - it’s a taxi service that’s given traditional taxi companies a lot to think about. But actually, Uber says it’s something different to that, Uber says it’s an App, and the App is now creating its own leasing company . .read more...
|Finance Director & Commercial Director UK South Fixed income including salary , car allowance & rolling guarantee will total up to £115,000 per annum + performance related bonuses typically expected to be a further £40,000 with further potential. - Robinson Toms Recruitment
|Area Manager Manufacturing Asset Finance Manchester , Stockport , Staffordshire area Salary range to £45,000 + up to 8% of all gross profit plus a further £45,000 in volume bonuses paid by £12m of originations. Commission paid monthly from first dea - Robinson Toms Recruitment
|Area Manager Manufacturing Asset Finance Leeds , Bradford , Halifax , Hull Salary range to £45,000 + up to 8% of all gross profit plus a further £45,000 in volume bonuses paid by £12m of originations. Commission paid monthly from first deal closed & - Robinson Toms Recruitment
|Compliance & Control Manager hard asset finance West Midlands - base salary range up to £50,000 + £7200 a year cash car allowance + 10% performance bonus plus all usual large company benefits. - Robinson Toms Recruitment
|Account Manager IT Finance Paris 60,000 OTE , 60% is base salary , plus all large company benefits uncapped earning potential with monthly paid commission. Plus company car or car allowance. - Robinson Toms Recruitment
|Area Manager Transport Asset Finance Hampshire & Dorset Salary to £40,000 + 6% of all gross profit plus up to a further £60,000 in volume bonuses paid between zero & £12m of originations. Commission paid monthly from first deal closed & uncapped. - Robinson Toms Recruitment
|Strategic Account Director - CBC Resourcing Solutions
|Account Manager - Automotive - CBC Resourcing Solutions
|Business Development Manager - CBC Resourcing Solutions
|Business Development Directors - Commercial Banking - CBC Resourcing Solutions
|Senior Asset Manager - Financial Services - CBC Resourcing Solutions
|Credit Risk Manager - CBC Resourcing Solutions
|J1959 - Business Analyst - UK, Gtr London / SE Eng - Asset Finance - New Leaf Search
|J1954 - Broker Account Manager - UK, S Eng - Asset Finance - New Leaf Search
|J1900 - European Group Business Development Manager - UK Gtr London / SE Eng - Asset Finance - New Leaf Search
|J1958 - Project Manager, Business Transformation - UK, Thames Valley - Asset Finance - New Leaf Search
|1830 - Business Development Manager - UK, Eng (Flexible) - Asset Finance - New Leaf Search
|J1952 - Internal Sales Account Manager - UK, SW Eng (Bristol) - Asset Finance - New Leaf Search
|OFFICE MANAGER & PERSONAL ASSISTANT - NACFB
|Asset Finance - Business Development Director - THC Recruitment
|Motor Finance - Business Development Manager - THC Recruitment
|Business Development Directors - Asset Finance - THC Recruitment
|International Account Manager - THC Recruitment
|Sales Executive - THC Recruitment
|Direct Sales Executive - Asset Finance/Motor Finance - THC Recruitment
Leasing World's authoritative leasing publication is published 10 times per annum, and is available on a subscription basis, in hard copy and in digital formats. BrokerWorld magazine is published 12 times per annum, and is available in hard copy only. Twice weekly enewsletter updates are free to register for, the banner and link is on this home page. A specially tailored Leasing World International Edition App is available in iTunes and Android stores.
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Leasing World is a hard copy magazine, which is mailed monthly to our subscribers. A digital version is available with two or more hard copy subscriptions. The typical edition features UK leasing news, surveys and legal pieces, plus shorter European and International leasing news stories. Special columns include Systems etc (software providers), Top of My Mind (latest legal info), Aspects of Fraud, City Chatter (a City lessor's blog, need we say more), Meanwhile Back in the Office, Recruitment Map, and Moves. There are always special features that examine a particular area of leasing, plus corporate profiles, conference coverage, and a Leasing events calendar.
Click on the image to download a free sample copy.