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.'

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee