All articles by Claire Hack
Claire Hack
UK brokers expected to prosper
A total of 78% of respondents expect broker-introduced asset finance to grow over the next three months, while a further 75% expect equipment dealer and distributor finance will do the same
Slaats new board member at Leaseurope
Leaseurope has appointed Ronald Slaats, CEO of De Lage Landen to replace retiring board member Alain Vervaet, supervisory director at ING Lease Holding. Chairman ofLeaseurope Jukka Salonen said: Slaats is an acknowledged expert within the leasing ndustry and a man of dedication at the helm of a truly pan-European and international institution
Senior management restructure at Alphabet
The UK arm of fleet funder and management company Alphabet has undergone a significant senior management reshuffle following the departure of director Mark Sinclair.
GE Capital Q1 earnings rise
A surge in profits in consumer lending and commercial leasing helped GE Capital grow net earnings by 11 per cent for the three months to March 31, 2011. After tax, earnings for the first quarter of the year stood at $1.83bn (1.25bn), compared to $1.64bn in the fourth quarter of 2010. Compared to the first quarter of 2010, earnings made a staggering leap, up from just $152m during the corresponding three months in the prior year, its consolidated results show.
Econocom Group speeds up debt reduction
Econocom and its banking partners have finalised an agreement to reorganise the financing scheme put in place for the purpose of acquiring former Socit Gnrale subsidiary ECS Group in October 2010. The agreement speeds up Econocom Groups debt reduction and allows for an early repayment of a 40m bridge loan, thereby cancelling a capital increase plan. The repayment comes after Econocom made an early repayment of 40m on a 132m syndicated loan at the end of March 2011.
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IGF bid to poach Oracle clients
IBM Global Financing (IGF) is to begin offering zero-percent financing for 12 months to credit-qualified customers as part of a bid to capture software customers from IBM rival Oracle.
Microlease Hamilton move
Test equipment lessor Microlease has acquired the entire share capital of Hampshire-based Hamilton Hall Consultants, an asset management software firm. The acquisition aims to improve Microleases asset management revenues, as well as strengthen the software and systems available to the customers of both Microlease and Hamilton Hall. According to Microlease, the acquisition will further expand its reach in the aerospace and defence markets two key areas of interest.
Fleet Logistics focuses on Nordic growth
Fleet Logistics has appointed Stuart Donnelly, UK and international business development director, to lead a new management team for its Nordic operations to spearhead expansion in the region. Donnelly, who has been with Fleet Logistics for the past four years, will be responsible for operations and commercial activities in Norway, Sweden, Denmark and Finland; and will be based at the companys regional head office in Malmo, Sweden
Sumitomo to set up in China
Japanese yellow goods producer Sumitomo Heavy Industries is to open a machinery leasing company in China. The new company will be based in Shanghai and will be set up with $20m (13.9m) of capital. The new leasing company will offer financing for construction machinery in order to keep up with growing local demand.