Leasing Companies

Australia office upgrade for WCG

Tue, May, 15 2012

White Clarke Group, technology provider to the automotive and asset finance sectors, is moving to larger offices in Miller Street, at the heart of North Sydney’s business district following the success of WCG products, such as the CALMS2 end-to-end business automation platform.

Aldermore appoints risk director

Mon, May, 14 2012

New UK bank Aldermore has appointed Malcolm Workman as risk director of its asset finance business.

NetSol returns to strength

Thu, May, 10 2012

Asset finance software provider NetSol Technologies has reported net income of $1.7m (€1.3m) for the third quarter of its fiscal year, ending 31 March. The figure, although down 48% year-on-year from $3.3m, marks a return to strength after the firm reported a Q1 loss of $1.5m six months ago and a profit of just £320,000 in Q2.

Used equipment leaves Europe as demand declines

Thu, May, 10 2012

Used construction and industrial equipment continues to leave Europe for emerging markets following the 1.4% decline in asset demand on the continent during the first quarter of 2012.

CIT further reduces debt by $2bn

Thu, May, 10 2012

Financial services firm CIT Group has announced it will further reduce its debt, redeeming $2bn (€1.5bn) of its outstanding senior notes. The figure takes the total of high-cost debt eliminated or refinanced by the parent of CIT Vendor Finance since 2010 to $26bn

Leaseurope hits fifth decade

Tue, May, 8 2012

Leaseurope, the trade association representing the European leasing and automotive rental industries celebrated its 40th anniversary on 3 May, with further commemoration planned at its annual convention in Cannes on 11-12 October.

Fleet Friday: new appointments, used prices, EVs

Fri, May, 4 2012

New roles at Nissan and Seat, Manheim’s ex-fleet used values, the company car’s role in reducing pollution and electric vehicle strategy, public and private.

BMW FS profit contribution drops, Q1

Thu, May, 3 2012

First quarter pre-tax profit at BMW Financial Services, which includes fleet lessor Alphabet, was €434m, up marginally by 1.17%, year-on-year, but down as proportion of the automotive manufacturer’s total group profit to 20.91%, from 25.15%.

Confirmed: De Lage Landen not part of Rabobank review

Tue, May, 1 2012

Dutch lessor De Lage Landen has denied the suggestion, made in a newspaper article, that the division is under strategic review by parent bank Rabobank. A news story, originally published in Dutch newspaper Financieele Dagblad and then reported by Reuters and Leasing World, quoted unnamed sources as saying De Lage Landen’s car leasing business was under review along with fund management arm Robeco which the article stated was up for sale.

Addleshaw promotes asset finance specialist

Mon, Apr, 30 2012

Commercial law firm Addleshaw Goddard has promoted Rebecca Williams to partner in order to strengthen its asset finance practice. Williams has been with the firm for seven years and has gained experience advising a variety of clients on domestic and cross-border asset finance work covering a broad range of asset types and finance products.