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Ascot, UK, 22 September 2006 – As part of a strategy of diversification and in response to growing customer demand, Key Equipment Finance, a leading provider of equipment financing solutions, has created a new business team targeting the European commercial vehicle marketplace.
The new service offering will enable end users in the transportation sector to experience the benefits of using the company’s equipment leasing solution including flexible financing, cash retention and tax advantages.
In addressing the sector, Key Equipment Finance will draw on its extensive experience in asset finance in Europe and transportation leasing in the United States together with strong global supplier relationships.
European managing director, Alun Richards said: “In addressing this market, we also benefit from the ability to offer a genuine pan-European service with a presence on the ground in 15 European countries together with a willingness to take residual value risk on our own account.
“In addition, we already have in place a broad portfolio of innovative and flexible financial products, which we can readily adapt to meet the demands of the commercial vehicle landscape.”
As a business development manager in the road transportation market, responsible for UK and Ireland, David Angus and his team will play an important role in helping to drive growth in the sector.
According to Richards: “As we look to build on our reputation for innovative solutions and high-quality service provision, David’s experience of asset finance management coupled with his in-depth knowledge of transportation leasing will prove invaluable. I am confident that he will make a significant contribution to our future success.”
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-
business equipment financing solutions to businesses of many types and sizes. The company
focuses on four distinct markets:
- businesses of all sizes in the U.S. and Canada (from small business to large
corporate);
- equipment manufacturers, distributors and value-added resellers worldwide;
- federal, provincial, state and local governments as well as other public sector
organisations; and
- lease advisory services for manufacturers’ captive leasing and finance companies.
Headquartered outside Boulder, Colorado, Key Equipment Finance manages a $12.6 billion
equipment portfolio with annual originations of approximately $5.7 billion. The company has major
management and operations bases in Toronto, Ontario; Albany, New York; Chicago, Illinois;
Houston, Texas; London, England; and Sydney, Australia. The company, which operates in 26
countries and employs 1,100 people worldwide, has been in the equipment financing business
for more than 30 years. Additional information regarding Key Equipment Finance, its products
and services can be obtained online at KEFonline.com.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services
companies, with assets of approximately $95 billion. Key companies provide investment
management, retail and commercial banking, consumer finance, and investment banking
products and services to individuals and companies throughout the United States and, for
certain businesses, internationally.
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