ABN Amro Commercial Finance and ABN Amro Lease have merged to form ABN Amro Asset Based Finance N.V.
The UK branch is led by Richard de Keijzer, previously managing director of ABN Amro Commercial Finance and prior to that, ABN Amro Lease.
Deborah Bell and Simon Lefevre will continue to head up the respective commercial departments and both business lines will continue to use their trading names.
The merger combines two asset-based business lines to drive economies of scale, with greater efficiencies for growth and underpinned by increased capital strength.
Richard de Keijzer, managing director said: “By formalising the partnership of our experienced asset-based finance professionals across commercial finance and lease, we hope to create increased opportunities to UK businesses as we continue to develop our cross-border and multi-local funding solutions.”
Together the combined UK entity will have a portfolio of approximately £1.4bn, with almost 1,000 clients and 200 employees, said ABN Amro.
It will play a crucial role in the wider international group across Germany, France, and the Netherlands with over 750 employees.
Richard de Keijzer added: “Both businesses are passionate about delivering an excellent service to our clients. Commercial Finance has just been awarded a Net Promoter Score of 71 in an annual Customer Satisfaction Survey and Lease has recently won the award for Best Middle Ticket Lessor by industry peers. By bringing together the expertise, knowledge and commitment of both teams into one, we have an enormous opportunity to enhance customer experience and accelerate our current growth trajectory.”