THE LEASING INDUSTRY BRIEFING
The latest news, views and numbers you need to know this month
News in Numbers
20
Fitch Ratings expects the average earnings of the 20 large European banks covered in its Quarterly Credit Tracker to improve. Major European banks are likely to report stronger earnings in the first quarter of 2021 than in the previous quarter, the agency said.
£2.23bn
Is the total asset finance new business (primarily leasing and hire purchase) written for February 2021, this represents a 1% year-on-year rise, according to the Finance & Leasing Association (FLA).
-4.2%
Total new leasing volumes reported in Q4 2020 dropped by -4.2% in comparison to the same quarter of the previous year, according to the Leaseurope Index.
£46.3bn
The value in Bounce Back Loans, under the UK government Coronavirus emergency scheme, granted to more than 1.5 million businesses by March 2021, according to the British Business Bank.
£26bn
Taxpayers faces losses of this amount from Bounce Back Loans, due to a combination of fraud and inability to pay, according to the National Audit Office.
People Moves
UTB seeks new head of sales following industry veteran retirement
UK-based United Trust Bank (UTB) has begun the hunt for a new head of sales in its asset finance division, following Keith Sangwin’s decision to retire at the end of August 2021. Earlier, UTB appointed Jon Mote as the head of specialist business development for asset finance.
Source: United Trust Bank
UK’s Triple Point appoints former Handelsbanken COO
Triple Point has appointed Georgina Silvester as its chief operating officer (COO) of its leasing and lending operation. Silvester joins from Handelsbanken, an international bank, where she had been COO UK for the last two years as well as stints as head of Brexit implementation and head of UK tax.
Source: Triple Point
Pulse Cashflow makes fresh appointments
UK-based Pulse Cashflow Finance has appointed Nic Hanson as the regional director for Wales and the South West region, and Martyn Freshwater has been appointed to the role of regional director for the UK’s Midlands and Central region.
Source: Pulse Cashflow Finance
DLL appoints Yke Hoefsmit as chief risk officer
The Dutch-based global provider of asset finance has announced the appointment of Yke Hoefsmit as chief risk officer (CRO) and member of the executive board of DLL.
Source: DLL
Lloyds asset finance makes two senior appointments
Lloyds Banking Group’s motor finance and leasing division has announced two senior appointments in its ranks.
Meryem Brassington has been appointed to the role of electrification propositions lead, bringing two decades of experience in financial services to the team, with the last four years spent working across the bank’s vehicle leasing businesses. She will be responsible for leading the sustainability agenda across Lex Autolease and Black Horse, helping to electrify the remainder of the business’s fleet while supporting customers in their transition towards a zero-emission future.
Iryna Kocharova has also been appointed to the role of head of corporate customer journey and sustainability where she will lead the development of the electrification strategy and create a long-term vision for the corporate customer journey process. Kocharova has worked in customer strategy roles at Lloyds for more than 10 years and will use her expertise to deliver a best-in-class customer experience.
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.”