TWO former GE Capital Fleet Services executives are to launch a company which, they claim, will set new standards in leasing and provide a new model for the fleet industry. Joint managing directors Tom Stephenson and Tim Grant believe Tuskerdirect, due to go operational in the last quarter of this year, will establish new quality standards for the 21st century.

With European venture capital backing, the company is internet-driven and will launch with offices in London and headquarters in Watford housing a customer call centre.

Stephenson, who was director of product development and strategic marketing at GECFS, and Grant, who was project manager for GECFS's 'Star Wars' global positioning satellite technology, will be joined on the Tuskerdirect board by operations director David Holgate, IT director Gavin Young, chief financial officer Keith Thompson and finance director Stuart Walton.

Stephenson said the company could save 60% of ongoing costs compared with a conventional operation because of its investment in internet technology and communications.

'The leasing industry is locked in a continuous cycle and it would be very tough, not to say prohibitively expensive, for an established operation to try to duplicate what we have done,' said Stephenson.

'Customers will see a new way of doing things - it's a new model for the fleet industry. Take-up will be gradual because most fleets are tied into the three-year cycle, but when they're ready they'll call us.'

The front-end website will offer vehicle and contract package selection functions, including online cash for car comparisons. Beyond that level, Tuskerdirect will establish intranet web pages for each 15-plus customer, with upper levels for company car drivers incorporating the company's fleet policy, band-based choice list comparators, benefit-in-kind tax calculations and recording mechanisms linked to a fleet manager's administration site.