Fleet News

No immediate change to leasing as HBOS launches

HBOS, the £30 billion financial services company created from the merger of the Halifax and Bank of Scotland launched on Monday, but there were no immediate changes to the firms' leasing operations.

Although the top 50 management positions have been allocated, with Halifax bosses focusing on retail operations and BoS staff managing corporate banking, any effect on the firms' leasing operations has yet to be announced. Bank of Scotland operates Bank of Scotland Vehicle Management and Godfrey Davis (Contract Hire), while Halifax has a 50% share in Lex Vehicle Leasing. Merging the two operations would create a new leasing giant with more than 140,000 vehicles.

George Grant, managing director of BoS Vehicle Management, said: 'There will be several announcements about HBOS in the next few weeks, but for the leasing operations, it is business as usual.'

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