Richard Priestman, a key figure at Lombard who
has played a central role in the development of its expanding
corporate arm, has stepped down from the company “to pursue other
interests”.
The move, which is believed to have taken
place in recent days, takes place as Lombard, one of Europe’s
largest leasing businesses, seeks to ramp up both its corporate
arm, which Priestman was responsible for, and also its retail
business, which specialises in lending to SMEs.
Go deeper with GlobalData
It is not clear whether Priestman, who one
inside source described as a “real technical, big ticket guy”, will
be replaced.
Three key people at Lombard reported to
Priestman, including Wesley Harfield, its head of specialist
finance, Ian McVicar, who is responsible for Lombard technology
Services, and Jon Bowers, its director of regional corporate
finance.
Priestman himself reported to Alex Baldock,
the MD of Lombard.
Priestman is also due to step down from his
role as chairman of the Finance & Leasing Association’s asset
finance division.
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By GlobalDataAn FLA spokesperson said a replacement for
Priestman might be announced at the FLA’s AGM next month. Julian
Rose is head of policy for this division.
Brendan Malkin
