He did not rule out further buy-outs in the UK, although he would not be drawn on whether one of the targets was up-for-sale Arriva Automotive Solutions - which is rumoured to be a major target for the Halifax. Smith added: 'We are going to invest significantly. We are number one in the industry and we are looking to enhance that position.'
He was speaking following a 24-hour flying UK visit during which he made a worldwide broadcast to staff on company performance and announced that GE Capital Fleet Services would continue to fight to protect and build on its customer base. He also added more weight to predictions that the leasing market would see further consolidation in the near future as the major players expanded through acquisition.