All articles by Jason T
Jason T
Syscap: Bank of England’s total spend to support leasing totals £0
Statistics suggest that the Bank of England has not yet invested any of its £175 billion (191 billion) economic stimulus package on support for the leasing market, despite announcing in July that it would start doing so, according to independent IT financier Syscap. The government announced in July that as part of its quantitative easing programme, it would start buying secured commercial paper backed by equipment leases But as of October 8, 2009, the Bank of Englands asset purchase statistics showed it had not yet purchased any secured commercial paper.
German lessor HVB Leasing becomes UniCredit Leasing
HVB Leasing GmbH has rebranded to become UniCredit Leasing GmbH, the company has announced. The German lessor said it was adopting the name in order to emphasise its affiliation to UniCredit Leasing, its owner and Europes largest lessor UniCredit Leasing GmbH will now benefit even more from being part of the group, a European network under the umbrella of a strong brand, said Frederik Linthout, chief executive of UniCredit Leasing GmbH, formerly HVB Leasing GmbH.
Charity Christmas Lunch to be held on December 16 – mark the date
The annual leasing industrys Charity Christmas Lunch will be held on December 16 this year at the Institute of Directors in London. The lunch will be sponsored by The Alta Group, CHP Consulting and International Advisory Associates, which have joined forces to help raise money for Cancer Journey, a charity that provides information to anyone affected, directly or indirectly, by cancer.
The Alta Group opens German office, appoints Michael Vander to the team
The Alta Group is opening a German office, headed by Michael Vander, who was appointed as an associate in Altas EMEA region. The leasing and asset finance strategic consultancy will open its German office in Frankfurt, where Vander who has in the past worked for large pan-European lessors including Deutsche Leasing, De Lage Landen and Svenska Finans International is based Specialising in international vendor programmes, Vanders last role was as sales manager EMEA for CIT Europe, running the Dell Financial Services programme across continental Europe.
Revealed: Hitachi Capital faces wave of redundancies
Robert Munn, the divisional managing director of Hitachi Capital Business Finance, will be leaving the business in early December, it has emerged. A source at Hitachi Capital explained: Following a board meeting at Hitachi Capital, we were sent a memo explaining that after reviewing the situation, the business finance MDs position was no longer needed, and that Munn was being made redundant. Its a very unhappy environment, he added
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GE Capital sees profits tumble by 80 percent in Q2 09
GE Capital saw revenue fall 29 percent to $12.8 billion (9 billion) in the second quarter of 2009, the company reported The Commercial Lending and Leasing (CLL) segment of GE Capital saw a decrease in profit of 74 percent, to $232 million
Hungarian leasing “set to rebound” despite fall in business
Hungarys leasing market is set to rebound before the end of the year, according to Gbor Lvai, the Hungarian Leasing Associations secretary general. The Hungarian Leasing Associations latest report revealed that the number of contracts fell by 74 percent in the second quarter, while the value of leases dropped by 70 percent year-on-year, to HUF 226 billion (843 million).
BPLG launches Alcatel-Lucent Financial Services with telecoms manufacturer
BNP Paribas Lease Group and telecoms manufacturer Alcatel-Lucent have announced the launch of Alcatel-Lucent Financial Services. Alcatel-Lucent, a manufacturer and provider of telecoms equipment and services, said the programme was tailored specifically for SMEs, and will help support business partners and resellers
UniCredit Leasing tops 2008 Leaseurope ranking of European lessors
Although UniCredit Leasing saw year-on-year new business fall by 14.6 percent to 12.7 billion, the Italian lessor was still nearly 1 billion ahead of BNP Paribas Equipment Solutions, its nearest competitor.
PCFG: half-year results will be “in line” with market expectations
Private & Commercial Finance Group (PCFG) has announced that the groups results for the six months ending September 30 2009 are anticipated to be in line with market expectations. This is enabling us to write good quality business on attractive terms, and to support our customers and introductory sources, said Scott Maybury, chief executive of PCFG.