FCA regulation presents a “great opportunity” for the UK auto finance sector as international conference sets the scene

With only five weeks to go before Francisco Esteves, a senior officer from the Financial Conduct Authority (FCA), is due to address delegates at the International Auto Finance Network’s conference with implementation progress, one UK auto lender is taking the initiative. Independent finance specialist ALPHERA Financial Services UK, which has an international presence and is part of BMW Global Financial Services, is advising dealers and brokers to learn lessons from the international finance and insurance industry to comply with new FCA legislation.

FCA regulation presents a “great opportunity” for the UK auto finance sector as international conference sets the scene

Aug 20, 2014

With only five weeks to go before Francisco Esteves, a senior officer from the Financial Conduct Authority (FCA), is due to address delegates at the International Auto Finance Network’s conference with implementation progress, one UK auto lender is taking the initiative. Independent finance specialist ALPHERA Financial Services UK, which has an international presence and is part of BMW Global Financial Services, is advising dealers and brokers to learn lessons from the international finance and insurance industry to comply with new FCA legislation.

Nick Salkeld promoted to new position at LeasePlan

Nick Salkeld, currently senior vice-president for the LeasePlan Corporation companies located in Southern Europe and Pacific Region, has been promoted to chief commercial officer on the group managing board. In this role he will focus on the commercial and competitive strategy of LeasePlan on a global basis for all LeasePlan companies including LeasePlan International.

Nick Salkeld promoted to new position at LeasePlan

Aug 20, 2014

Nick Salkeld, currently senior vice-president for the LeasePlan Corporation companies located in Southern Europe and Pacific Region, has been promoted to chief commercial officer on the group managing board. In this role he will focus on the commercial and competitive strategy of LeasePlan on a global basis for all LeasePlan companies including LeasePlan International.

LeasePlan’s net profits up 18.2% as new chief commercial officer is appointed

LeasePlan Corporation increased its net profit in H1 2014 by 18.2% to €202.3m (H1 2013: €171.1m) while the number of vehicles under management rose by 1.38m from 1.37m at year-end 2013. At the same time the company’s capital and liquidity position strengthened, its Common Equity Tier 1 ratio sitting at 17.9% (16.9% at year-end 2013 and 16.1% in H1 2013)

LeasePlan’s net profits up 18.2% as new chief commercial officer is appointed

Aug 20, 2014

LeasePlan Corporation increased its net profit in H1 2014 by 18.2% to €202.3m (H1 2013: €171.1m) while the number of vehicles under management rose by 1.38m from 1.37m at year-end 2013. At the same time the company’s capital and liquidity position strengthened, its Common Equity Tier 1 ratio sitting at 17.9% (16.9% at year-end 2013 and 16.1% in H1 2013)

ELFA mourns the passing of industry icon Michael J. Fleming

The US Equipment Leasing and Finance Association (ELFA) is mourning the passing of Michael J. Fleming, who served as the association’s president for 27 years. He passed away on Aug 19 after a long but valiant fight with cancer. A Florida memorial service celebrating Mike Fleming’s life is tentatively scheduled for October. The ELFA website will continue to be updated as further information becomes available.

ELFA mourns the passing of industry icon Michael J. Fleming

Aug 20, 2014

The US Equipment Leasing and Finance Association (ELFA) is mourning the passing of Michael J. Fleming, who served as the association’s president for 27 years. He passed away on Aug 19 after a long but valiant fight with cancer. A Florida memorial service celebrating Mike Fleming’s life is tentatively scheduled for October. The ELFA website will continue to be updated as further information becomes available.

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Hugh Sigrist commences new asset finance operation at Renaissance

Last month (July) Renaissance Asset Finance (Renaissance) opened its doors for business. In the first 10 days of trading it had completed some £3.5m in new business deals. Such early success should have come as no surprise, however, since Renaissance is headed by Hugh Sigrist one of the UK’s most experienced and talented asset lenders.

Hugh Sigrist commences new asset finance operation at Renaissance

Aug 19, 2014

Last month (July) Renaissance Asset Finance (Renaissance) opened its doors for business. In the first 10 days of trading it had completed some £3.5m in new business deals. Such early success should have come as no surprise, however, since Renaissance is headed by Hugh Sigrist one of the UK’s most experienced and talented asset lenders.

Hitachi Capital selects Sword Apak’s wholesale floorplanning system

Hitachi Capital Business Finance has launched its dealer stock funding solution powered by Sword Apak’s Wholesale Floorplanning System (WFS) v6. Hitachi Capital is a specialist funder in the agricultural and grounds care sectors. It needed a robust, fully automated, future-proof stock funding system to support its drive to build stronger manufacturer relationships. The company also required professional support from an experienced and knowledgeable IT systems supplier.

Hitachi Capital selects Sword Apak’s wholesale floorplanning system

Aug 19, 2014

Hitachi Capital Business Finance has launched its dealer stock funding solution powered by Sword Apak’s Wholesale Floorplanning System (WFS) v6. Hitachi Capital is a specialist funder in the agricultural and grounds care sectors. It needed a robust, fully automated, future-proof stock funding system to support its drive to build stronger manufacturer relationships. The company also required professional support from an experienced and knowledgeable IT systems supplier.

Provident Financial acquires sub-prime lender Moneybarn

Provident Financial, a leading UK non-standard lender, is to acquire Duncton Group for £120m. Duncton Group and its subsidiaries operate under the Moneybarn brand, and together form the UK's largest non-standard vehicle finance group.

Provident Financial acquires sub-prime lender Moneybarn

Aug 19, 2014

Provident Financial, a leading UK non-standard lender, is to acquire Duncton Group for £120m. Duncton Group and its subsidiaries operate under the Moneybarn brand, and together form the UK's largest non-standard vehicle finance group.

William Sutton argues the case for facility managers to utilize equipment financing

Sponsored by CBC Resourcing Solutions. Facility managers (FM) have a powerful ally to rely on as they seek to outfit their organizations’ plant, equipment, and software needs. Equipment leasing and financing providers have the resources to make these acquisitions affordable and beneficial in a myriad of ways. Finance companies—from commercial banks to manufacturers to specialized commercial finance providers—offer a variety of options and can arrange financing that best suits an FM’s capital plant and equipment needs, and financial structure. Whether operating in the public or private sector, knowing the ways equipment financing can work within budget constraints and keep an organization running smoothly is a critical advantage for FMs.

William Sutton argues the case for facility managers to utilize equipment financing

Aug 18, 2014

Sponsored by CBC Resourcing Solutions. Facility managers (FM) have a powerful ally to rely on as they seek to outfit their organizations’ plant, equipment, and software needs. Equipment leasing and financing providers have the resources to make these acquisitions affordable and beneficial in a myriad of ways. Finance companies—from commercial banks to manufacturers to specialized commercial finance providers—offer a variety of options and can arrange financing that best suits an FM’s capital plant and equipment needs, and financial structure. Whether operating in the public or private sector, knowing the ways equipment financing can work within budget constraints and keep an organization running smoothly is a critical advantage for FMs.

Sale & Leaseback: The Boards struggle with new accounting rules

The accounting rules for sale and leaseback (S&LB) transactions were the main issue considered in the latest round of re-deliberations of the proposed new global lease accounting standard after last year's second exposure draft (ED2).

Sale & Leaseback: The Boards struggle with new accounting rules

Aug 17, 2014

The accounting rules for sale and leaseback (S&LB) transactions were the main issue considered in the latest round of re-deliberations of the proposed new global lease accounting standard after last year's second exposure draft (ED2).

autofinance 11

New acting head of Nordea Finance appointed as Jukka Salonen moves to head bank’s Simplification Unit

After 15 years at Nordea Finance Jukka Salonen is to take up a new position in the Nordea Group he...

Asset finance best medicine for medical equipment purchases

Faced with greater patient demand, continuing technological innovations and strong pressure to mak...

US leasing set to drive auto sales as penetration soars to 25.6% in Q1 2014

An auto finance environment favorable to many US consumers is predicted to provide a stimulus for ...

Plant & machinery and commercial vehicles lead new business recovery for UK asset lenders

UK Finance & Leasing Association (FLA) members reveal that new business in the asset finance...

 
 
 
 
 
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