Alphabet: merged functions bring fleet and driver services into focus

The lines between corporate funding and retail finance are blurring.

Clear evidence is provided by the FN50, which last year revealed that private cars accounted for 17% of the total funded fleet, a noticeable rise from 13% in 2016.

Alphabet (GB) has taken note.

It became the latest major leasing company to react to this trend after former chief executive Nick Brownrigg moved to a group role in the Netherlands.

Parent BMW Group took the decision to appoint CEO of BMW Financial Services (GB) Mike Dennett as chief executive officer of both businesses.

Dennett is now responsible for consumer and business funding, following an example set four years ago by Lloyds Bank when Richard Jones, Black Horse managing director, assumed the same position at Lex Autolease.

“Historically, there was a clear divide; that is no longer the case,” Dennett tells Fleet News in his first interview since the expansion of his role.