The appointment of James Gearey, who starts his new job on April
1, will help spearhead SFS’ “aggressive and focussed UK growth
strategy”, Jonathan Andrew, head of SFS’s European businesses,
said.

Andrew headed up SFS’ UK business prior to his promotion to his
current job over a year ago. Since then the UK arm has been managed
jointly by Andrew and “other senior SFS staff”, a spokesman
said.

Gearey has been director of partnerships at Norwich Union
Partnerships since 2006, and prior to that worked for four years at
GE in three divisions including its aircraft engine arm and GE
Life, the insurance business.

Earlier this month SFS sold its invoice factoring arm to Bibby
Financial Services Group for an undisclosed sum, and last year De
Lage Landen acquired SFS’ leasing businesses in Hungary. Both sales
were linked to SFS’ strategy of focusing on core assets, believed
to include aircraft and marine finance, and also to grow its Asian
businesses.