Grenkeleasing in the UK has ceased to write business through brokers and will focus on working directly with resellers and vendor partners.
The Germany-headquartered IT lessor has been reducing its exposure to the broker market since 2009 after the company became a full subsidiary rather than a franchise business.
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The termination of introduced business brings the UK division into line with its counterparts across Europe.
Stephen Nesbitt, Grenkeleasing UK sales director, told Leasing Life the firm has ambitious growth plans in the UK and expects to record 20% year-on-year growth in business volume in 2012.
Grenkeleasing recently opened its sixth UK branch in Tamworth, Leicestershire, and plans to open a further four branches by 2014.
Nesbitt added Grenkeleasing’s broker-introduced business represented around 5% of the company’s new business volume in 2012.
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