THE LEASING INDUSTRY BRIEFING
The latest news, views and numbers you need to know this month
News in Numbers
12 months
The Financial Conduct Authority (FCA) is giving regulated firms a year to bring in changes to how companies serve customers, including communicating in a way consumers can understand, offering products and services that meet their needs, and offering fair value while providing support.
363km
This year’s SPAR Swiss Epic mountain bike race will cover 363 kilometres and climb 11,650 meters in altitude before reaching the finish in Davos. Taking part is the UK’s Jeremy Hartill of Capitas Finance (alongside race partner Ian Lees) as they raise funds for spinal cord research.
63%
In early July, a survey by Time Finance found that 63% of businesses have hiked their prices by 10% and one in five by up to a 30%. The group said the study showed that rising costs are forcing SMEs to scale back on their investments.
£1.25bn
NatWest has announced an additional lending package worth £1.25bn for its 40,000 agriculture customers. The move is aimed at helping customers deal with rising costs and support them in transitioning towards sustainable practices.
£100m
UK-based challenger Allica Bank has achieved the milestone of providing over £100m in asset finance funding to SMEs since its launch in 2021. The SME-focused lender said it worked with the broker community to reach SMEs in need of funding.
People Moves
Acquis appoints finance chief
Acquis, which offers insurance products and services to the European finance and leasing industry, has appointed Tom Denman as its new CFO. Denman is joining Acquis from Principality Building Society. Denman worked with Principality for 13 years and as CFO and a member of the board for five years there, he was responsible for all finance and treasury operations.
Source: Acquis
Hamish Malcolm joins Close Brothers Asset Finance’s Scotland team
Close Brothers Asset Finance has appointed Hamish Malcolm to the role of area sales manager on the Scotland team, responsible for the Highlands & Islands, and Aberdeen regions. Malcolm has over 30 years’ financial services experience, the last decade of which was spent as a broker in the Highlands & Islands.
Source: Close Brothers Asset Finance
Ex-Aldermore BDM joins Time Finance as broker manager
Time Finance has appointed Matt Dean as broker manager in its asset finance team in a bid to drive support for businesses in the South-West. Dean brings over 12 years’ experience to the role, the last 10 of which he was in a business development role with Aldermore Bank.
Source: Time Finance
Bibby FS appoints former Lloyds MD to UK head of sales
Bibby Financial Services (BFS), a UK provider of invoice finance, has appointed Stephen Hand as its UK head of sales. Hand joins BFS with 20 years’ experience in financial services and 13 years working in Lloyds Banking Group within commercial finance for SMEs, Bibby said in a press release.
Source: Bibby Financial Services
Societe Generale appoints CEO of equipment finance division
French financial services major Societe Generale has announced the appointment of Odile de Saivre as CEO of Societe Generale Equipment Finance (SGEF).
Odile de Saivre whose appointment will be effective from 1 September 2022, will report to Diony Lebot, deputy CEO of the group.
Odile de Saivre, who is also a member of the management committee, has been working as the deputy CEO of the equipment finance division since 2017.
In her new role, she will continue to support the growth of customers and vendor partners, while aiding them in becoming more sustainable by taking steps such as optimising life cycle management and promoting access to equipment and technologies that are more eco-friendly.
Odile de Saivre will be replacing Jochen Jehmlich, who has decided to retire after more than a 20-year stint with the company.
Source: Societe Generale
Societe Generale appoints CEO of equipment finance division
French financial services major Societe Generale has announced the appointment of Odile de Saivre as CEO of Societe Generale Equipment Finance (SGEF).
Odile de Saivre whose appointment will be effective from 1 September 2022, will report to Diony Lebot, deputy CEO of the group.
Odile de Saivre, who is also a member of the management committee, has been working as the deputy CEO of the equipment finance division since 2017.
In her new role, she will continue to support the growth of customers and vendor partners, while aiding them in becoming more sustainable by taking steps such as optimising life cycle management and promoting access to equipment and technologies that are more eco-friendly.
Odile de Saivre will be replacing Jochen Jehmlich, who has decided to retire after more than a 20-year stint with the company.
British Ports Association chief executive Richard Ballantyne, following UK Chancellor Rishi Sunak’s announcement that the Freeports selection process will see the first sites in England set up by the end of 2021:
“This is a welcome development and by being more inclusive in terms of the number of freeports there might be, the government can now explore how to better deliver on its levelling up agenda without picking regions over each other. Coastal communities are often in areas of high deprivation and have also experienced challenges resulting from the coronavirus pandemic and lockdown so this potentially transformative policy will be welcomed across a range of suitable locations.”