Private banking sector ramps up exotic asset finance
Three private banking businesses have placed
the financing of exotic assets for the super-rich and famous at the
centre of their business strategies.
Following revelations in Leasing Life
earlier this year that Lombard had begun financing corporate jets
for customers of Coutts, it has now emerged that Bank of America
has plans to expand its European, Far Eastern and Middle Eastern
jet finance operations.
It recently hired Alex Badran, formerly of
Cessna Finance, to spearhead this drive.
Leasing Life has also learnt that two
former Fortis directors have joined a newly established yacht and
jet finance arm of a Dutch offshore trust company.
Full details of these stories will appear
in the April issue of Leasing Life
Brendan Malkin