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Praetura posts record growth in 2017

Praetura Asset Finance experienced record growth in 2017, with a 23pct increase in lending and a 9pct increase in the number of cases year on year. Lending totals rose across all funding products offered, including a 26pct rise in hire purchase facilities. There was also a surge in the amount of businesses being assisted by asset refinance, with the number of cases increasing by almost a third.

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LDF lent SMEs half a billion in 2017

LDF Group started 2017 with a firm objective; to provide UK small businesses with £500 million in finance that could both drive growth and support entrepreneurism across the board. Reports previously released by the RBS independent lending review suggested that UK small businesses were underfunded by as much as £35 billion, making access to finance for Britain’s small business population an increasingly critical consideration. According to Peter Alderson, LDF Managing Director, LDF Group has taken the time over the past two years to develop a new and more varied range of products, many directly in response to customer and market demand, including the group's Business Development Loan...

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Stephen Bassett joins Rivers Leasing

This week, independent niche asset finance funder Rivers Leasing has announced the appointment of Stephen Bassett, former Managing Director of Arkle Finance, as Non-Executive Director. Having finished 2017 by exceeding growth targets for the year and launching a unique £3 million Loan Notes investment opportunity with an award winning P2P investment provider, Rivers Leasing is continuing its development trajectory with the support of Bassett, who brings more than 40 years of asset finance and leasing sector experience to the organisation. 

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FIBA: more than just a new name?

Yesterday's half-day event was a chance for the new Financial Intermediary and Broker Association ("FIBA") to explain how it differs from the association which it effectively replaces, the Association of Bridging Professionals ("AOBP"). Chairman Adam Tyler and primary supporter David Golder (of The SimplyBiz Group) were also tasked with explaining the difference between FIBA and AOBP, to which the honest answer is, not too much at the moment. One might say that FIBA is AOBP with a ramped-up focus on compliance, in all its forms; MiFID2, GDPR and SMCR all being sets of initials our readers will be, or will become, familiar with in 2018...

 

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New head of specialist vehicle valuations at Aldermore

Aldermore, the specialist bank, has just announced the appointment of Tim Bearder as Head of Specialist Vehicle Valuations, a key role within the Bank’s Business Finance division. Tim, whose career spans over 35 years in the motor industry, brings extensive knowledge and experience to the role supporting the Bank’s ambition of gaining a greater share of the specialist car market. He will be responsible for vehicle valuations in the newly created Specialist Car team at Aldermore, having previously held several senior positions with various manufacturers including Porsche and Aston Martin...

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FIBA names Adam Tyler as Chairman

The Financial Intermediary & Broker Association (“FIBA”), which hosts its inaugural annual conference on the 17th January in London, has appointed Adam Tyler to lead the new trade body. FIBA has emerged from the AOBP and tells us it has “a uniquely diverse range of brokers and intermediaries from across the financial spectrum. The existing membership has been traditionally aligned to the bridging and development sector and its wide range of lenders. This forms a strong base of support and the intention is to reach out and attract brokers...

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BBB and Simply Asset Finance unlock £60m

Simply Asset Finance has agreed a new facility with the British Business bank which will unlock £60m of funding for SMEs in the UK. This transaction is the sixth under British Business Bank’s ENABLE Funding programme since it was started in September 2015, and during that period it has supported lending to more than 10,000 businesses...

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Praetura promotes Simmons

Praetura Asset Finance has announced the promotion of Ric Simmons to the board of directors. Following another record-breaking year for the independent asset finance funder, the newly created role of sales director is part of the next growth phase for the company. One of the original members of the team that established Praetura Asset Finance just five years ago, Simmons has worked in the asset finance industry for over 15 years.

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Van sales down for first time in 5 years

The new light commercial vehicle ("LCV") market declined in 2017, representing a 3.6pct year-on-year drop, according to the latest figures shared with us by the Society of Motor Manufacturers and Traders ("SMMT"). This is the market’s first decline since 2012, and the decline was especially marked in demand for light vans (under two tonnes), where demand fell by more than 20pct.

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FCA names new chair from 1st April

Charles Randell has been named as the new chair of the Financial Conduct Authority (FCA) with effect from 1st April. Randell will serve a five year term and takes over from John Griffith-Jones, the current chairman, who took the role five years previously. FCA chief executive Andrew Bailey said, “I am very pleased to welcome Charles to the FCA. His experience of regulation, both during the financial crisis and more recently as a member of the Prudential Regulation Committee, mean that he has a strong understanding of the challenges that the FCA faces.”

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Syscap rebrands to Wesleyan Bank

Syscap, the UK’s leading IT finance specialist, has changed its name to Wesleyan Bank with effect from 2 January 2018. The rebranding took place to unify the company’s operations under one brand and offer a simplified customer experience, and follows the success of Wesleyan Bank since its acquisition of Syscap in February 2015 which has seen the company double its net lending to UK businesses...

 

 

 
 
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BBB boosts Tower Leasing by £25.5 million

The British Business Bank (“BBB”) has agreed to deliver a £25.5m funding facility to Tower Leasing to provide asset finance for SMEs. This represents the government-backed bank’s first transaction of 2018 under the ENABLE Funding programme. Last November's Budget statement increased the amount of UK government funding received by the British Business Bank from £3.7bn to £6.2bn...

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HHF invests in IT

Henry Howard Finance (HHF), one of the largest alternative finance providers in Wales, has increased the size and scope of its internal IT team with a series of key appointments. Expansion of the division has been led by Gavin Dowding, Head of IT, who initially joined the business in 2016 to support Henry Howard Finance’s ongoing growth plans. Gavin is supported by Head of Infrastructure, James Taylor, who was recruited in August from Olive Communications to ensure the firm’s network and cyber security systems operate efficiently and securely at all times. Earlier this month, Greg Merriman, an experienced web applications developer also joined the team to ensure the continued success of HHF’s unique online deal management portal, ‘HowApp’, which launched in 2015.

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A new solution for FCA hire fees

A group of lessors, including One pm, Kennet Leasing, Tower Leasing and Henry Howard, is calling on others in the industry to respond to a Financial Conduct Authority ("FCA") consultation on possible changes to the ways the regulator charges its costs to regulated firms. At present the FCA fees for regulated credit agreements such as hire-purchase are based on the interest charged, but fees for regulated hire agreements are based on the total rental payments. As a result, the FCA ‘levy’ on a £20,000 hire agreement might be £20 per year compared to £5 per year for a similar credit arrangement.

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Horne makes new home at MAF

John Horne, previously of Barclays Mercantile and Lombard, has joined Midlands Asset Finance (“MAF”) in the position of senior relationship manager. Horne becomes MAF’s sixth new appointment in 2017, a year of significant growth for the business...

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Transport firms drive forward

SMEs operating in the transport industry are demonstrating resilience to the uncertainty in the UK economy, according to Hampshire Trust Bank's latest SME Growth Watch Report. The research found nearly a quarter (24pct) of smaller firms in the transport and distribution sector have plans to expand in the next 12 months. This corresponds to the trends which Hampshire Trust Bank reports it is seeing in its day-to-day business. Jon Maycock, Managing Director of Asset Finance at Hampshire Trust Bank, said, “New car registration data shows electric plug-in cars recorded strong year-on-year growth...

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Diesel faces decline, says BVRLA

The total business fleet leasing market for cars and vans has grown 2.5pct year-on-year to 1,338,000, according to findings from the latest Quarterly Leasing Survey by the British Vehicle Rental and Leasing Association (BVRLA). It’s an upswing that comes off the back of two consecutive quarters of growth. The BVRLA also revealed at its recent Industry Outlook Conference that diesel’s reign as the fuel of choice in the industry appears to be coming to an imminent end.

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Apollo acquires Haydock Finance

Haydock Finance Limited (“Haydock”), the Blackburn-based asset finance provider, announced yesterday that certain investment funds managed by affiliates of Apollo Global Management, LLC (“Apollo”) have signed an agreement to acquire a majority shareholding in Haydock. They are investing alongside Haydock’s founder and Executive Chairman Jon Wilkinson. The agreement is subject to customary conditions and is expected ...

 

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Aldermore passes £1 billion in 2017

Aldermore, the specialist lender, has reached the milestone of successfully supporting over £1 billion of asset finance to UK businesses this year. The record milestone has been achieved as a result of various key developments across the Bank’s Asset Finance division including the extension into new industrial sectors such as telecoms and IT, as well as recruiting additional resource in its specialist underwriting function.

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P2P accounts for 15pct of SME lending

Annual British Banking Association data suggests that peer-to-peer business lending platforms have grown to account for 15pct of all new loans made by UK banks to small businesses. In 2016, equity-based crowdfunding accounted for 17pct of all seed and venture stage equity investment in this country. Meanwhile, a recent annual report from Cambridge Centre for Alternative Finance attributes the greatest market share to peer-to-peer business lending, growing by 36pct to £1.23 billion in 2016...

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Close Brothers marks 10 years in Ireland

Close Brothers Commercial Finance is delighted to be celebrating 10 years of trading in Ireland this year. It has also relocated and expanded its offices in Cork and Belfast as part of a continued campaign of expansion in Ireland, following the success of its new Dublin workplace in 2016, and is committed to Ireland in the longer term.

 

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Catch up with Basel 3/4, IFRS16, aircraft, systems

International and EMEA leasing news is available on the Leasing World International APP for iPad, iPhone, and Android devices, and is free to download. For those looking to view on their PC . .

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Implementing IFRS16

Ultimate IFRS16 session . .

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Leaseurope launches SME Roundtable

Leaseurope is launching a series of roundtable meetings across Europe to discuss leasing as a key source of finance for SMEs. The aim is to explore the national SME financing landscape and improve the understanding of leasing as a valuable form of investment finance, as well as identifying any potential obstacles hindering its use by local SMEs and how these could be tackled at national and ultimately European levels . .

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New International CEO at Bibby

Independent business funder, Bibby Financial Services (“Bibby”), has announced that Steven Box has taken on the role of International Chief Executive Officer. In addition to Bibby’s European businesses, as of 1 January 2016 he is responsible for operations in Canada, USA, India, Hong Kong, Singapore and Malaysia . .

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dll sale rumours

It has been widely trailered in the Dutch and international press that Rabobank Group is in preliminary talks with banks, institutional investors and private-equity firms that may bid for its leasing unit, De Lage Landen International BV, in a sale that may fetch as much as €4.5 billion, according to various sources.

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Leaseurope appoints Leon Dhaene

Leaseurope, the trade association representing the European leasing and automotive rental industries in Europe, has announced that its Board of Directors has unanimously appointed Leon Dhaene as Director General effective 1 December 2015. Leon Dhaene succeeds Tanguy van de Werve who left Leaseurope to join AFME, the Association for Financial Markets in Europe, to head their Brussels Advocacy Office.

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LeasePlan world leader

LeasePlan Corporation N.V has reached a record level of 1.5 million vehicles worldwide, a landmark it considers as confirming its global market leadership . .

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A small community, a very big business

How much does it cost to get into a highly paid career in leasing, that has a touch of glamour about it? There is a way, so how might one go about it? 

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Don’t try fiddling leases in Vietnam

In Vietnam, the HCM City People's Court has handed down death penalties to two former executives, one a leasing executive, for embezzling the equivalent of approximately $5.2 million and abuse of power while running state leasing companies.

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Sword Apak’s 3rd Italian win

Agos Ducato (a subsidiary of Credit Agricole Consumer Finance) has become Sword Apak’s third Italian based client to date. Expanding its wholesale operations in Italy by introducing main dealers into its business portfolio, Agos needed a robust platform to support its expansion plans. Having reviewed the options, it selected Sword Apak to implement its state-of-the-art Wholesale Floorplanning System (WFS) v6. This is the second implementation for Sword Apak under the Credit Agricole umbrella with Netherlands based bank Ribank already a well-established WFS client . .

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Car paranoia for legal eagles?

Supposing a firm leases a fleet of cars from a lessor, and overnight all those cars have to be recalled for the same fault. The usual lease agreement says the lessee has to keep paying whether the asset is available to use or not. 

But what if the lease is through the car manufacturer’s leasing captive?

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They should have googled it?

Did Google google their new name Alphabet before adopting the new handle? Because within a few hours of receiving the Google Alphabet announcement, our editor’s office received a terse email from Munich saying, “As being reported in the media, Google has founded a holding company called Alphabet. The website www.alphabet.com is owned by BMW Group . .

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GE $8.5bn healthcare sale

GE has announced the $8.5 billion sale of GE Capital Healthcare Financial Services to US bank Capital One. This is less than the $10-$11 billion mooted in the press from “people close to the matter” just three or four weeks ago.

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Watch out: Uber’s understood leasing

Most people have heard of Uber, and know what it is - it’s a taxi service that’s given traditional taxi companies a lot to think about. But actually, Uber says it’s something different to that, Uber says it’s an App, and the App is now creating its own leasing company . .

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Job Board

Collections Administrator - Asset Finance - CBC Resourcing Solutions
Business Development Manager - Invoice finance - CBC Resourcing Solutions
Business Development Managers - Asset Finance - CBC Resourcing Solutions
Vendor Finance Manager - CBC Resourcing Solutions
Head of Portfolio Management - CBC Resourcing Solutions
Head of Operations - CBC Resourcing Solutions
Head of Business Development - CBC Resourcing Solutions
J2222 - Remarketing Manager - UK, Gtr London / SE Eng - Asset Finance - New Leaf Search
J2120 - Business Development Manager, IT Channel - UK, NW / N Eng - Asset Finance - New Leaf Search
J2178 - Internal Sales Executive - UK, SE Eng / Thames Valley - Asset Finance - New Leaf Search
J2079 - Business Development Manager, Technology Leasing - UK, SE Eng Pref - Asset Finance - New Leaf Search
J2221 - Sales Support Executive - UK SE Eng / Thames Valley - Asset Finance - New Leaf Search
J2215 - Credit Analyst - UK, Thames Valley / SE Eng - Asset Finance - New Leaf Search
J2075b - Italian speaking Credit Specialist - Spain, Barcelona - Asset Finance - New Leaf Search
Compliance Officer - THC Recruitment
Account Manager - Asset Finance - THC Recruitment
Assistant Credit Manager - Asset Finance - THC Recruitment
Regional Sales Manager – Invoice Finance - THC Recruitment
Financial Services Administrator - THC Recruitment
Internal Account Manager - Asset Finance - THC Recruitment
Head of Asset Management & Legal Services (Motor Finance) - THC Recruitment
Broker Manager – Hard Assets – Midlands North and Scotland sales area – salary range preferred to £50,000 possibly slightly higher, base salary is 70% of on target earnings thus OTE at £50,000 is c£72,000. Excellent commission plan is provided , quarterly - Robinson Toms Recruitment
Account Manager – Office Technology Finance - Midlands – Base salary up to £35,000 on target earnings at this salary would be £58000 + ( 60/40 mix ) plus Audi company car plus 10% of salary pension & life & health cover. Quarterly paid commission with exc - Robinson Toms Recruitment
Senior Assistant Relationship Manager – West London – salary up to £40,000 plus bonus of up to 25% plus generous benefits. - Robinson Toms Recruitment
UK and Ireland Sales Director – High Technology Assets – UK South preferred - high fixed income , detail to be discussed on application , with realistic earnings significantly > £200,000 and with totally uncapped earning potential. - Robinson Toms Recruitment
Broker Manager - location flexible – Salary range £50,000 to £70,000 , depending on experience plus excellent monthly paid commission , typical average monthly commissions for an on target performance are > £4000 per month and with totally uncapped earnin - Robinson Toms Recruitment
Credit Risk Analyst – Middle Ticket Asset Finance – Central London – Preferred salary range to £70,000 , more might be available for an exceptional person , plus bonus up to 30% of base salary plus all usual large company benefits. - Robinson Toms Recruitment
Account Manager – Vendor IT Finance – North Germany . Year 1 guaranteed income of €120,000 base €60,000 plus a superb uncapped commission plan that pays commission at 0.5% of the volume you write PLUS 8% commission on margin. All usual large company benef - Robinson Toms Recruitment
Commercial Credit Underwriter – Asset Finance - The Oakland Partnership
Collections & Customer Service Coordinator – Financial Services - The Oakland Partnership
Business Support Executive/Resourcer – Financial Recruitment - The Oakland Partnership
Part-Time Sales Support Executive – Great Opportunity! - The Oakland Partnership
Internal Sales Executive – Unsecured Lending - The Oakland Partnership
Sales Support Administrator – Financial Services - The Oakland Partnership
SALES SUPPORT ASSISTANT TEAM LEADER – ASSET FINANCE - The Oakland Partnership
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