The Captives Forum Opens its Doors for Business
FOR IMMEDIATE RELEASE
London 8 September 2009
The Captives Forum Opens its Doors for Business
An innovative new Trade Association - The Forum of Manufacturer’s Sales Finance Companies Limited (The Captives Forum) – launched in August. This unique Europe-wide association brings together the finance subsidiaries of many of the world’s major manufacturing companies.
Equipment financing is an undisputed major part of the product offerings of many manufacturers, either direct to their customers or via a distributor network, and it is appropriate that there should be a forum to champion this significant channel to market. Equipment manufacturers often have particular issues which are rarely represented by trade associations when matters such as ‘regulation’ or ‘proposed accounting changes’ are being addressed.
The idea of a captives group was the brainchild of Pitney Bowes and Xerox and some 18 months ago resulted in many of the sales finance organisations owned by the major manufacturing companies operating across Europe becoming informal members of a group. This has now been formalised as The Captives Forum.
The Captives Forum is based in the UK, with meetings rotating between Brussels, Paris, London and other European locations on a regular basis. The day-to-day management is jointly undertaken by two global providers of specialist leasing and asset finance advisory services - International Advisory Associates and The Alta Group. They have been instrumental in supporting the development of The Captives Forum from its inception.
The Captives Forum has an Executive Committee, Chaired by Elliot Lennick, Managing Director of MAN Financial Services. The initial Members are Daniel Benoit, Managing Director, Europe, Xerox Global Leasing; Patrick Jelly, Managing Director, Pitney Bowes; Malcolm Ogle, Chairman, The Alta Group; and Derek Soper, Chairman, IAA-Advisory. Steve Robinson, Principal, The Alta Group, is the Company Secretary.
Mission Statement and Objectives
The Captives Forum Mission Statement is:
"The European Captives Forum provides a service to the captive sales financing subsidiaries and divisions of equipment manufacturing companies by helping to establish a favourable operating environment; by providing a forum for discussion on non-competitive issues; and by providing information to assist them in their business."
The Captives Forum is a ‘not for profit’ organisation limited by guarantee. It has the following objectives:
- a.To be a central administrative body to facilitate the wishes of the captive sales financing companies with regard to the arrangement of meetings and presentations, representation of the members to the various leasing and finance associations within Europe and other relevant organisations.
- b.To be a research body and to provide analysis on the sales financing industry and other relevant market information.
- c.To be a technical centre providing commentary, guidance and advice on all matters of relevance to the captive sales finance market.
- d.To provide a forum for the exchange of non-competitive information.
- e.To promote the captive sales financing industry.
MEDIA CONTACTS
Margaret Waldren, MW Links
+44 (0)1372 277772
margaret@mwlinks.com
Malcolm Ogle, The Alta Group
+44 (0)1825 713356
malcolmogle@thealtagroup.eu.com
Derek Soper, International Advisory Associates
+ 44 (0)1444 891344
dereksoper@iaa-advisory.com
