THE much publicised agreement between HSBC Vehicle Finance and Lex Vehicle Leasing began this month after receiving regulatory approval.

Lex, the UK’s largest leasing company as recognised in the FN50, the Fleet News survey of the country’s largest leasing companies, will provide the service and support infrastructure for HSBC Vehicle Finance leasing activities.

As announced in September, HSBC Vehicle Finance will own and manage the relationship with customers, while Lex will provide the supporting customer service and vehicle management.

Although they will work closely with each other they will retain their own product offerings.