March 2016 Vol 22 No 270 www.leasinglife.com Private cloud leasing NEWS: Polish and Estonian leasing market figures SPECIAL REPORT: Germany y www.leasinglife.comPLUS: IAA-Advisory & Leasing Foundation research March 2016 1 LL270March 1 final version.indd 1 01/03/2016 15:19:04 Headline Sponsor Leasing Life Conference & Awards 2016 Paris, France EARLY BIRD RATE AVAILABLE NOW Leasing Life Conference & Awards 2016 brings together asset Why Attend? finance professionals and industry disruptors in an active • Hear from senior industry figures on current challenges and discussion of the key issues facing the leasing industry: benchmark your success • Reinventing leasing to meet customer needs • Network and share best practise with your peers in the asset finance community • Exploring alternative sources of funding • Discover high level content and case studies delivered over four • Increasing digital across your company comprehensive sessions • Managing risk and industry disruptors • Celebrate at our black tie awards dinner recognising those at the • Pioneering young talent and diversity top of their game Top industry movers and shakers will meet to debate the importance of new strategies, business practices and partnerships in the industry. We invite you to become an active voice in this discussion to shape the future of asset finance. For more details please contact Victoria Pennell on [email protected] or call +44 (0) 20 3096 2634. Event supported by Gold Sponsor Silver Sponsors Badge and Lanyard Sponsor LL270March 1 final version.indd 2 01/03/2016 15:19:05 Headline Sponsor CONTENTS LEASING LIFE n Cover Story n News 5 Rabobank considers 21-21 PRIVATE CLOUD LEASING €4.5bn DLL sale. Flexible finance products can boost the take-up of private cloud, while data 5 Leaseurope’s credit and protection regulatory agreement changes can influence the market.Sotiris regulatory positions for Kanaris investigates. European authorities. Leasing Life Conference & Awards 2016 5 Bank of Ireland loans €5.3bn to SMEs. 6 New leases in Estonia. 6 ING reports profit jump. Paris, France 6 LeasePlan profit up 19% 7 asset finance funds one- third of UK assets. 7 Five arrows rebrands. 7 Close Brothers acquire EARLY BIRD Finance for Industry. 8 1pm profit doubles. 8 BBB agrees deal with RATE AVAILABLE LDF. NOW 8 Hampshire Trust Bank’s loans up. 9-10 BLME acquires Renaissance. 9 – Hugh Sigrist, Renaissance 11-12 People moves. n Features 13 ABN Amro Lease. n Country Focus 16-17 Standards for UK brokers. 19-20 GERMANY 18 Fleet Logistics. The subdued nature of the German economy is reflected in the leasing sector, n Comment where the forecasts and predictions are for modest growth, reports Paul Golden. 24 Nick Gallop, IAA-Advisory/Leasing Foundation. 28 Rob van den Heuvel,DLL. 29 Kerry Huntley, Siemens Financial Services. 30 Adam Tyler, NACFB. n Legal Leasing Life Conference & Awards 2016 brings together asset Why Attend? 26 Ruth van Lare and Alexia Russell, Watson Farley finance professionals and industry disruptors in an active • Hear from senior industry figures on current challenges and & Williams. discussion of the key issues facing the leasing industry: 28 Anastasia Fowle, benchmark your success Shoosmiths 29 – Kerry Huntley, SFS • Reinventing leasing to meet customer needs • Network and share best practise with your peers in the asset finance community • Exploring alternative sources of funding • Discover high level content and case studies delivered over four • Increasing digital across your company comprehensive sessions • Managing risk and industry disruptors • Celebrate at our black tie awards dinner recognising those at the • Pioneering young talent and diversity top of their game COMPANIES IN THIS ISSUE 1pm 8 Finance for Industry 7 Raphaels Finance 12 Top industry movers and shakers will meet to debate the importance of new strategies, business practices and partnerships in ABN Amro Lease 13 Five Arrows Outsourcing Solutions 7 RateSetter 11 Aldermore 12 Fleet Logistics 18 Renaissance 9 the industry. We invite you to become an active voice in this discussion to shape the future of asset finance. Bank of Ireland 5 Fujitsu 21 Scania Financial Services 6 Bibby Financial Services 11 GE Capital Equipment Financing Germany 20 Shawbrook Asset Finance 12 BLME 9 Hampshire Trust Bank 8 For more details please contact Victoria Pennell on [email protected] or call +44 (0) 20 3096 2634. Siemens Financial Services 29 British Business Bank 8 Hitachi 11 Siemens Financial Services Germany 20 CHG Meridian 20 IAA-Advisory 24 Škoda 12 Event supported by Cisco Capital 21 ING 6 Shoosmiths 27 Close Brothers Asset Finance 7 International Data Corporation 21 Gold Sponsor Silver Sponsors Badge and Lanyard Sponsor Dell Financial Services 21 KPMG 22 Syscap 21 Deutsche Leasing Group 19 LeasePlan 6 TLT 12 DLL 28 Paragon Bank 7 United Trust Bank 12 ElasticHosts 22 Rabobank 5 Watson Farley & Williams 26 www.leasinglife.com March 2016 y 3 LL270March 1 final version.indd 3 01/03/2016 15:19:10 LEASING LIFE EDITOR’S LETTER Brexit uncertainty is not the only issue The chatter at the UK’s Finance & Leasing reflected in the 1,500 attendees at the FLA Association (FLA) annual dinner in Lon- dinner, as they were asked for their opin- don last month pointed to positivity and ions by the BBC’s Today show journalist confidence in the UK market. John Humphrys. The UK has strong financial results and The room was split 60/40, with the FLA chairman Nigel Clibbens reasoned majority wishing to stay in the EU. there was a good chance that it would But when Humphrys asked if anyone continue. might change their position between now “In 2015, we provided a record level of and then, roughly half the room put their new finance – £110bn – 9% more than in hands up. 2014,” said Clibbens. Whatever the outcome, it’s hard to say “Within that total, asset finance new at this juncture what’s best for asset fi- business grew by 12%, and FLA mem- nance. Would a separate UK/EU bother the bers in the asset finance markets, through pan-European bank-backed lessors that leasing and hire purchase, financed almost operate in the UK? one-third of UK investment in machinery It doesn’t seem to have phased the and equipment in 2015,” he added. thinking behind the tie up of the German “In fact, of the total asset finance Borse with the London Stock Exchange, The FCA renumeration assessements new business last year, almost 60%, or for example. and suitability papers might cause issues £16.6bn, went to support SME investment Seeing as most lessors approach sectors for current practice further down the track. in equipment. and assets, I can’t see a mass exodus from And across Europe there are threats to All good news. But there are a few chal- the UK on the cards if the UK voted to the leasing business, like cybersecurity or lenges on the horizon. leave. digital disruption, that have no respect for David Cameron announced a UK There are some who would argue that national boundaries at all. referendum on British membership of the the UK has enough concerns of its own, European Union for 23 June this year. as a nascent alternative finance market gets to grips with its identity, and pricing In my last editor’s letter I covered how Brian Cantwell goes under pressure from competition for this is affecting pipeline business. [email protected] funders. But it was interesting to see the opinions Leasing Life editorial advisory board: Carmen Ene, chief executive officer, 3StepIT;Patrick Gouin, senior partner, Invigors; Lindsay Town, chief executive, IAA-Advisory; Chris Cooper, managing director, Challenge Consulting; Chris Boobyer, senior partner, Invigors; Tarun Mistry, partner, Grant Thornton UK; Dan Levy, head of financing solutions, BT Global Services,Robert Peterson, director of strategy & business development, ABN Amro Lease If you would like to become involved with the editorial advisory board, please email the editor. Subeditors Leasing Life is available in print and Tom Langfield, Nick Midgley, online worldwide. Charles Wheeldon Leasing Life is published monthly by Financial News Publishing Ltd. MARCH 2016 VOL 22 NO 270 ADVERTISING No part of this publication may be Briefings services manager reproduced in any form whatsoever EDITORIAL Reporter Alex Aubrey without the express permission of Editor Sotiris Kanaris T: +44 (0) 203 096 2603 the copyright owner. Brian Cantwell T: +44 (0)20 7406 6538 [email protected] ISSN No 1351-3826. Printed in T: +44 (0)20 7406 6635 [email protected] [email protected] England by Progressive Media Group SUBSCRIPTIONS Group publisher Picture resources: Shutterstock Reporter 40-42 Hatton Garden, Ameet Phadnis Jonathan Minter London EC1N 8EB T: +44 (0)20 7406 6705 T: +44 (0)20 7406 6561 T: +44 (0)20 7406 6579 [email protected] [email protected] [email protected] 4 y March 2016 www.leasinglife.com LL270March 1 final version.indd 4 01/03/2016 15:19:12 EURO & GLOBAL ROUND-UP NEWS Rabobank considers €4.5bn DLL sale Rabobank Group is in preliminary talks The Bloomberg source said that the trans- DLL reported net profit of €454m in with banks, institutional investors and pri- action could be concluded in the second 2014, while its profit soared by 13.9% year- vate equity firms that may bid for its leasing half of 2016 and that selling parts of the on-year to €257m in the first half of 2015. unit DLL, according to media reports. leasing unit is being considered. Earlier this month, DLL financed the Bloomberg cited a person with knowl- replacement of a fleet of 76 ferry port termi- edge of the process saying that the bank Asset cuts nal tractors in six ports in the Netherlands could raise as much as €4.5bn from the sale, Rabobank is seeking to cut as much as and the UK for ferry operator Stena Line.