Despite the financial crisis of 2008 causing a
series of job losses within Bank of Scotland’s asset finance
operation, many of the banking giant’s top leasing personnel have
found success elsewhere in the industry.

One company, Premier Asset Finance Ltd, is
looking to take on new staff, after a successful start in the
leasing business. Founded by Mark Ripley and Kevin Davidson, former
directors of BoS’ asset finance operation, Premier operates across
the whole of the UK from its headquarters in Edinburgh.

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Having opened its doors with a sales staff of
one in July 2008, the introducer now employs 12 ex-BoS personnel,
with an average experience of 15 years. By 2011, Premier wants to
reach every conurbation in the UK through 18 staff.

Ripley said that Premier’s business strategy
is based on his team’s relationship management experience, with
sales staff in the field conducting face to face meetings with
customers whenever possible.  

In early 2009, another new asset finance
business called T&L Leasing Ltd was founded by former BoS
staff.

The Chester-based business, which specialises in funding
transport and logistics assets, went into business with a panel of
14 funders.

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 “[Bank of Scotland] had a number of highly profitable
niche businesses that were closed because of the wider group
funding problems that existed,” said Phil Snewin, one of the
company’s founders and directors.

 “We approached a number of European and Middle Eastern
banks and were genuinely surprised by their willingness to get
involved and help plug the gap in the market,” he added.

The three-man team at T&L is made up of Phil Snewin, a
25-year BoS veteran who was formerly head of transport and
logistics at the bank; Paul Lewis, formerly head of commercial
vehicles at BoS; and Darren Hallmark, who was also part of the
transport team at BoS, as senior national accounts manager.

Fred Crawley