25th June 2009
Oak in European Financial Press
Oak In European Financial press
The UK broker market, having developed in part to fill the void left by the decline of branch-based bank sales, relies for the most part on local connections and regional expertise to thrive.
To an expert in placing CCTV deals in Cornwall, for example, the thought of closing a vendor deal in the Tyrol with an Austrian funder, or placing a Bulgarian lease with a Greek bank, might seem patently insane.
But as the lights go out one by one at the broker desks of the blue chips, perhaps there is an opportunity for some British introducers to look across the sea to source and place business.
This does not necessarily mean entering into the potential nightmare world of cross border leasing – in the vendor world, for example, there are many suppliers operating across the continent with large revenues, but with small enough in-country volumes to have slipped under the radar of De Lage Landen, Raiffeisen, UniCredit and the like.
When properly approached and vetted by a broker, however, these suppliers are often snapped up by the big networks. Also, in addition to vendor programmes, the generally lower concentration of brokers to funders in Europe (particularly in newer markets), means less competition to place individual deals with lenders.
Oak Leasing, known for finding deals on the mainland (and indeed as far away as Tahiti), has found its highly-visited website to bring in a lot of Euro business from asset finance virgins looking for a solid funder.
Meanwhile, Netherlands broker veteran Frans Jansen of Leasing Services has found success in the past through working as a source of local knowledge, for English firms looking to split commission on placing a European deal.
By teaming up with a European broker in this way – especially one with a good spread of contacts among international network heads – a good deal of business can become available to any outfit that can bring in-depth asset knowledge to the table.
Contributed by: Fred Crawley, Reporter - Leasing Life & Motor Finance
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