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SMEs underestimate loan approvals

The latest British Business Bank research published today (20 February) shows that while there is a growing appetite among SMEs for alternative finance, demand for finance overall remains weak. Bank analysis finds that, over the last ten quarters, only 1.7pct of smaller businesses sought new loans, which is a record low since the SME Finance Monitor began in 2011. Less than half (43pct) were confident they would get a loan if they applied, even though most new loan applications (72pct) are approved.


International initiative links FCA to US regulator

The Financial Conduct Authority ("FCA") and the US Commodity Futures Trading Commission ("CFTC") have signed an arrangement that commits the regulators to collaborating and supporting innovative firms through each other’s financial technology initiatives. Andrew Bailey, Chief Executive of the FCA, said, "International borders shouldn’t act as a barrier to innovation and competition in financial services and that is why agreements like the one we have signed today with the CFTC, a forward looking and proactive regulator, are so important..."


First Asset Finance welcomes director

First Asset Finance PLC, the London based structured asset finance providers and advisers, have today (Friday 16 February) announced the appointment of Robert Taylor as Commercial Director. Taylor is an ACIB qualified banker and fellow of the Leasing Foundation, with 17 years asset finance experience. He will be working alongside Patrick Sherrington, focusing on developing new relationships with banks, lessors and vendors as a key part of First Asset Finance’s growth strategy...


Henry Howard hailed in award nominations

Henry Howard Finance ("HHF"), one of the UK’s largest independent finance houses, is celebrating the highest number of nominations for all businesses shortlisted in the inaugural Finance Awards Wales. Group Chief Financial Officer Mark Burn, has been nominated for Chief Financial Officer/Finance Director of the Year, while Group Financial Controller, Mark Evans, has been shortlisted in the Financial Controller of the Year category. The Newport-headquartered finance house is also a finalist for the award for Finance Team (financial services) of the Year...


A-OK: Alphabet is top employer

Leading and mobility expert Alphabet is proud to announce that it has been officially certified by the Top Employers Institute for its exceptional employee offerings. The Top Employers Institute assessed Alphabet’s approach in key areas including talent strategy, on-boarding, learning and development, performance management, leadership, career management, compensation and benefits, as well as cultural development. As a result, Alphabet (GB) Limited has been awarded the exclusive Top Employers United Kingdom 2018 Certification...


Petrol: the past and the future for fleets?

Figures from Dataforce show that the UK true fleet sector was alone among the EU ‘big 5’ in experiencing a downturn in 2017. The figures also show that the true fleet sector has turned definitively against diesel-engined vehicles. All five countries (UK, Germany, France, Spain and Italy) demonstrated a swing towards alternative fuel registrations, not only electric/hybrid but also most significantly towards petrol-engined vehicles...


Asset finance grows for 7th year running

New figures released today (Friday 9 February) by the FLA show that asset finance new business (primarily leasing and hire purchase) grew by 5pct in 2017 – the seventh consecutive year of growth. New business in December 2017 increased by 4pct compared with the same month in 2016...


B is for Billion: UTB passes milestone

United Trust Bank ("UTB") has passed a significant milestone in its ambition to become the UK’s foremost specialist bank as its balance sheet exceeds £1 billion. The achievement follows another successful year for UTB as it increased lending volumes, took on further office space at its headquarters in Moorgate and continued to invest in people and technology across all business divisions. Harley Kagan, Group Managing Director, said, “Becoming a billion-pound business was a big moment for us...


Report shows collapse in new car ownership

New car ownership is in sharp decline as consumers continue to turn their back on hire purchase in favour of personal leasing, according to a report from new car marketplace ContractHireAndLeasing.com. The marketplace found that the value of hire purchase agreements fell 9.8pct in the 12 months to November 2017. Personal contract hire (PCH), commonly referred to as leasing, grew 12.7pct over the same period


White Clarke Group turns 25

More than 250 leading finance industry figures from around the world attended the White Clarke Group Silver Jubilee Masquerade Ball to celebrate its 25 year anniversary on 27 January. The event, held at the historic five-star Landmark Hotel in London, was attended by White Clarke Group staff from their various global offices as well as key partners and customers. The relationship has included what Fran Kenny (Operations Director of Toyota Financial Services) called “a renewal of vows” with the roll-out last year of a new front-end system, to the entire Toyota and Lexus network across the UK...


Shawbrook sets up shop - locally

Specialist lender Shawbrook Bank has opened one of several new Regional Business Centres in the UK at Kings Hill in Kent, as part of its drive to get closer to the businesses it serves. Twelve staff are based at Kings Hill and the bank will continue to build its presence there. “We are a growing bank and firmly believe that the best way to support SMEs (small and medium-sized enterprises) across the country is by being physically present within the regional economies in which they operate,” said regional managing director David Moran...


Hitachi hooks up with ISEKI

ISEKI UK & Ireland today (Thursday 1st February) announced that it has chosen Hitachi Capital to provide floor-plan services to its network of 60 dealers across the UK. Additionally both companies announced their intent to run attractive and innovative retail finance options later in the year...


Aldermore welcomes new face

Aldermore, the specialist bank, has announced the expansion of its asset finance lending team with the appointment of Nick Dudley as Head of Business Development for Dealer Services, a newly created role within the Bank’s Business Finance division. Nick will be responsible for partnership accounts across a variety of industry sectors, with particular focus on transportation and construction which will complement the Bank’s growth ambition across the Manufacturer and Dealer Services platform, and he will also play a key role in developing new products to meet  growing customer demand.

Investec rebrands Amicus Commercial Finance

Investec Bank plc has rebranded Amicus Commercial Finance as Investec Capital Solutions, which will provide high-tech, high-touch working capital financing to owner-managed UK SMEs, as of Thursday 25 January. It's a rebrand which follows the acquisition of Amicus Commercial Finance in December 2017. Investec Capital Solutions has been fully integrated into Investec Corporate Lending, with a seamless transition for all clients...


BVRLA takes fresh approach to fleet air quality

Fleet organisations representing the users of millions of cars, vans and trucks came together on 25 January to discuss the proposed Leeds Clean Air Zone (CAZ) at a roundtable event, jointly hosted by the British Vehicle Rental and Leasing Association ("BVRLA"), Energy Saving Trust and Leeds City Council. Also present were the Association of Car Fleet Operators, Fleet News and a number of national and regional fleet operators. This roundtable was the first of many being organised in those cities across the UK that are planning Clean Air Zones as part of tackling poor local air quality.


11pct of UK SMEs owed six-figure sum

A survey of more than 500 managers at companies ranging from two to 250 employees has found that the late payment culture is putting the future at risk for more than half of all UK SMEs. 11 per cent of UK SMEs are curently owed more than £100,000, with the average sum being owed totalling nearly £64,000. International data provider and researcher Dun & Bradstreet shows that late payments are leading to cashflow difficulties for 35 pct and to reduced profit performance for 24 pct...


Praetura posts record growth in 2017

Praetura Asset Finance experienced record growth in 2017, with a 23 pct increase in lending and a 9 pct increase in the number of cases year on year. Lending totals rose across all funding products offered, including a 26 pct rise in hire purchase facilities. There was also a surge in the amount of businesses being assisted by asset refinance, with the number of cases increasing by almost a third.


LDF lent SMEs half a billion in 2017

LDF Group started 2017 with a firm objective; to provide UK small businesses with £500 million in finance that could both drive growth and support entrepreneurism across the board. Reports previously released by the RBS independent lending review suggested that UK small businesses were underfunded by as much as £35 billion, making access to finance for Britain’s small business population an increasingly critical consideration. According to Peter Alderson, LDF Managing Director, LDF Group has taken the time over the past two years to develop a new and more varied range of products, many directly in response to customer and market demand, including the group's Business Development Loan...


Stephen Bassett joins Rivers Leasing

This week, independent niche asset finance funder Rivers Leasing has announced the appointment of Stephen Bassett, former Managing Director of Arkle Finance, as Non-Executive Director. Having finished 2017 by exceeding growth targets for the year and launching a unique £3 million Loan Notes investment opportunity with an award winning P2P investment provider, Rivers Leasing is continuing its development trajectory with the support of Bassett, who brings more than 40 years of asset finance and leasing sector experience to the organisation. 


FIBA: more than just a new name?

Yesterday's half-day event was a chance for the new Financial Intermediary and Broker Association ("FIBA") to explain how it differs from the association which it effectively replaces, the Association of Bridging Professionals ("AOBP"). Chairman Adam Tyler and primary supporter David Golder (of The SimplyBiz Group) were also tasked with explaining the difference between FIBA and AOBP, to which the honest answer is, not too much at the moment. One might say that FIBA is AOBP with a ramped-up focus on compliance, in all its forms; MiFID2, GDPR and SMCR all being sets of initials our readers will be, or will become, familiar with in 2018...



New head of specialist vehicle valuations at Aldermore

Aldermore, the specialist bank, has just announced the appointment of Tim Bearder as Head of Specialist Vehicle Valuations, a key role within the Bank’s Business Finance division. Tim, whose career spans over 35 years in the motor industry, brings extensive knowledge and experience to the role supporting the Bank’s ambition of gaining a greater share of the specialist car market. He will be responsible for vehicle valuations in the newly created Specialist Car team at Aldermore, having previously held several senior positions with various manufacturers including Porsche and Aston Martin...


Acquisition of LandKreditt Finans AS

BNP Paribas Leasing Solutions announced on Tues 13 February the signing of a Memorandum of Understanding for the 100pct acquisition of a Norwegian leader in agricultural leasing, Landkreditt Finans AS. This operation will be finalised by the end of the first half of 2018, subject to the agreement of the various supervisory authorities. With this acquisition, BNP Paribas Leasing Solutions is laying the first milestone of its expansion in the Nordic countries, reinforcing its position as Europe’s leading leasing company.



Catch up with Basel 3/4, IFRS16, aircraft, systems

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 . .

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Implementing IFRS16

Ultimate IFRS16 session . .


Leaseurope launches SME Roundtable

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 . .


New International CEO at Bibby

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 . .


dll sale rumours

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.


Leaseurope appoints Leon Dhaene

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.


LeasePlan world leader

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 . .


A small community, a very big business

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? 


Don’t try fiddling leases in Vietnam

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.


Sword Apak’s 3rd Italian win

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 . .


Car paranoia for legal eagles?

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?


They should have googled it?

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 . .


GE $8.5bn healthcare sale

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.


Job Board

Business Development Manager - Vendor Finance - CBC Resourcing Solutions
Head of Transformation - Asset Finance - CBC Resourcing Solutions
Head of Business Assurance and Control - Asset Finance - CBC Resourcing Solutions
Head of Asset Finance Strategy and Performance - CBC Resourcing Solutions
Divisional Head of Asset Finance - CBC Resourcing Solutions
Accountant - Asset Finance - CBC Resourcing Solutions
Account Manager - Motor Finance - CBC Resourcing Solutions
Asset Finance Sales Manager – Excellent Opportunity - The Oakland Partnership
Vendor Account Manager – Asset Finance - The Oakland Partnership
Credit and Risk Manager – Asset Finance - The Oakland Partnership
Collections & Customer Service Coordinator – Financial Services - The Oakland Partnership
Internal Sales Executive – Unsecured Lending - The Oakland Partnership
J2235 - Collections & Recoveries Manager - UK, Thames Valley / SE Eng - Asset Finance - New Leaf Search
J2218 - Senior Account Manager - UK, SW Eng - Asset Finance - New Leaf Search
J2047 - Regional Sales Manager - UK, Mids - Asset Finance - New Leaf Search
J2243 - Senior Credit Analyst - UK, Mids - Asset / Transportation Finance - New Leaf Search
J2241 - Team Leader, New Business Processing - UK, SE Eng / Thames Valley - Asset Finance - New Leaf Search
J2161 - Leasing Collections Agent - UK, SE Eng - Asset Finance - New Leaf Search
J2242 - Broker Manager Hard Assets - UK, SW Eng - Asset Finance - New Leaf Search
Senior Credit Analyst – Asset Finance - Midlands – commutable from Birmingham , Coventry , Oxford , Worcester etc – preferred base salary £45,000 plus all large company benefits including bonus to c8% - Robinson Toms Recruitment
Business Development Manager – Manufacturing & Engineering Asset Finance – South West - Bristol and Cardiff Salary £45,000 exceptionally £50,000 plus up to 8% of gross profit paid on every deal paid monthly & paid on every transaction plus volume bonuses - Robinson Toms Recruitment
Business Development Manager – Manufacturing & Engineering Asset Finance – Midlands Salary £45,000 exceptionally £50,000 plus up to 8% of gross profit paid on every deal paid monthly & paid on every transaction plus volume bonuses to £45,000 a year or eve - Robinson Toms Recruitment
Business Development Manager – Manufacturing & Engineering Asset Finance – Leeds to Darlington area Salary £45,000 exceptionally £50,000 plus up to 8% of gross profit paid on every deal paid monthly & paid on every transaction plus volume bonuses to £45,0 - Robinson Toms Recruitment
Business Development Manager – Construction & Recycling Asset Finance – East Anglia / Eastern counties Salary range up to c£50,000 plus up to 8% of gross profit paid on every deal paid monthly & paid on every transaction plus volume bonuses to £45,000 a - Robinson Toms Recruitment
Business Development Managers - IT Finance – location flexible - salary £50,000 -£60,000 , on target earnings £100,000 to £120,000 with ability to earn to 200% of variable + car allowance , monthly paid commission on all business plus 50% of OTE earnings - Robinson Toms Recruitment
Business Development Manager - Middle Ticket Asset Finance – South East England Preferred salary range up to £60,000 , exceptionally more may be available , plus £5000+ car allowance plus excellent commission plan paying 25% of gross profit generated. Com - Robinson Toms Recruitment
Leasing/Sales Coordinator - THC Recruitment
Retail Finance – BDM - THC Recruitment
Collections/Credit Analyst – Motor Finance - THC Recruitment
Compliance Officer - THC Recruitment
Account Manager - Asset Finance - THC Recruitment
Assistant Credit Manager - Asset Finance - THC Recruitment
Regional Sales Manager – Invoice Finance - THC Recruitment
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