Fleet News

Forward Trust restructuring boost to Swan

FORWARD Trust is restructuring its motor operations to further boost its contract hire and leasing business - Swan National. The move - the result of a doubling of Swan National's fleet size to 51,000 units since it was acquired by Forward Trust four years ago and expansion into Europe - focuses on the finance company withdrawing from the retail point of sale finance market.

Forward Trust, which was the first finance house to form a joint venture with a manufacturer - Fiat - in the 1970s has over the last decade supplied finance independently through up to 400 own point of sale outlets in leading dealerships nationwide.

Tim Holmes, director and general manager of Forward Trust, said: 'Forward Trust's strategy revolves around growing business areas where the potential exists to add real value for our customers beyond simple financing. We believe the future is contract hire through providing money, cars and added value services. We are totally wedded to the motor industry, but it is a case of what products and what delivery channels we think are best through which to provide our services. Both sides are resource hungry in terms of people and systems and we have to concentrate those resources in the area which we think will provide best returns.'

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