Close Bros forms new leasing and rentals division

Close Brothers has formed a new commercial division, Close Brothers Leasing and Rentals.

The new division brings together three existing businesses; Close Brothers Leasing, Close Brewery Rentals and Close Brothers Commercial Vehicle Solutions. These three businesses were formerly part of Close Brothers Asset Finance.

Neil Davies has been promoted from managing director of Close Brothers Leasing to become CEO of the newly created division.

Commenting on the news, Davies said: “Our aim is to allow increased focus on the opportunity the rentals market presents. We plan to grow this business relatively quickly and the restructure will help us to achieve that.

“Under the leadership of Mike Randall, Close Brothers Asset Finance has grown very successfully to become a significant part of the overall Group, and so another objective of this change is to enable Mike and his team to concentrate on and grow the core asset finance market.

“I’ve taken up my new role with immediate effect and am very much looking forward to this opportunity to expand the overall commercial division and drive Close Brothers Leasing and Rentals forward to deliver sustainable long-term growth.”

Paul Bartley

New appointments include Paul Bartley and Peter Godwin as managing director and commercial director respectively of Close Brothers Leasing and Rentals and Paul Sherman as managing director of Close Brewery Rentals.

The news comes one month after Close Bros Leasing achieved Investors in People Gold award.

Davies explained: “The Investors in People Standard is a widely recognised framework of good practice that businesses adopt to support them in maximising the benefits of their most valuable resource, their people.

“Three years ago Close Brothers Leasing applied for a review of the business against this framework and was subsequently awarded a silver grade. Achieving silver at the first attempt is a great accolade for any organisation; however the Leasing team wanted to improve.

“In order to be recognised as a gold organisation you have to be able to demonstrate that you involve stakeholders in planning and be committed to corporate social responsibility. You must use mentoring, coaching and sharing good practice as innovative ways of developing people and have inspirational leaders and managers that provide positive and motivational role models.

“In addition, you must go beyond legal requirements to recognise and reward people’s contributions, continuously improve and have a sense of ownership and pride and allow performance to improve as a result of investment in people development and people’s career prospects improve as a result.”

He added: “I am extremely proud of this award. We have all worked hard to achieve this recognition and it is a fantastic result which demonstrates how closely the company adheres to its Visions and Values”.