Fleet News

Lloyds TSB autolease restructures

LLOYDS TSB autolease has announced the closure of three offices as part of a major restructuring following its acquisition of rival leasing firm FNVH earlier this year.

The enlarged company, which is now the largest leasing firm in the UK, will in future operate three core sites, Bury, Worcester and Birmingham.

Three sites will be closed in the shake-up, Stanmore, Shrewsbury and Stirling. Stirling is the headquarters of a former FNVH acquisition, Highway Vehicle Management, while Shrewsbury is the main office for Lloyds TSB motorent. Shrewsbury is the home of Fleet Management Services and part of the firm's daily rental operation, which is also in Stanmore.

The centralisation is expected to be finished early in 2003.

Nigel Stead, managing director of Lloyds TSB autolease, said: 'The developments are designed to create the right environment for future growth and investment following the company's acquisition of First National Vehicle Holdings in April 2002.

'Placing the focus on three sites will consolidate those key areas of the business that are currently spread across more than one office, including sales and daily rental.'

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