We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time
The start point for the best source of fleet information |
HSBC is to close its Vehicle Finance division ending a four year arrangement with Lex, which subsequently became Lex Autolease when Lloyds TSB tookover HBOS.
"The current referral agreement was not meeting the expectations of either Lloyds or HSBC, we have reached a mutual decision to end the agreement," said an HSBC spokesman.
The move will see 33 staff made redundant and a further 14 taken on by Lex Autolease which will continue to manage HSBC Vehicle Finance's existing customers.
"Existing HSBC Vehicle Finance customers will migrate to Lex Autolease and will shortly receive a letter informing them of the changes. They will experience an uninterrupted level of service from Lex who has successfully managed HVF relationships for the last 4 years," said the spokesman.
FOLLOW BUSINESSCAR ON TWITTER
BusinessCar magazine ©2019
Business Car Magazine © 2020 | Business Car is part of NS Media Group.
