Fleet News

Lloyds and UDT merge lease business

LLOYDS Bank-TSB subsidiaries Lloyds Bowmaker and United Dominions Trust have merged their motor finance and leasing businesses including Black Horse Vehicle Contracts and First Service Management.

Ronnie Maclachlan, managing director of Lloyds Bowmaker Dealer Finance Division since 1995, becomes managing director of the motor finance division reporting direct to Peter Hook, managing director of Lloyds Bowmaker and UDT.

Apart from Black Horse Vehicle Contracts and First Service Management, which are expected to have a combined fleet by the end of the year of 40,000 vehicles, the motor finance division will include the fleet funding and dealer-based operations of Lloyds Bowmaker and UDT and the motorcycle finance business of Lloyds Bowmaker (RIGP). Hook said: 'We can review as we go forward. The objective is bringing the businesses together because it cannot make sense to duplicate.'

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