Societe Generale Equipment Finance expands into U.S. Market
26.10.2007
Societe Generale Equipment Finance today announced the launch of Societe Generale Equipment Finance, USA. The new company extends Societe Generale Equipment Finance's expanding global network to twenty three countries worldwide.
The leasing market in the USA is the single largest in the world, with yearly new business volume of Euro 170 Billion and double digit growth over the last 3 years. It is a well established market, fairly segmented and highly competitive, and represents a huge growth opportunity for a new entrant.
The new entity, Societe Generale Equipment Finance USA, headquartered in Jersey City, N.J., was created in March and will be fully operational by end 2007. Philippe Mathe, its Chief Executive Officer, has assembled a Management Team of experienced local professionals to help him drive the development of its equipment and vendor finance activities.
The new team is focused on building a first class platform to support Societe Generale Equipment Finance's global vendors in Transport and Industrial Equipment as well as the High Tech sector, and to develop synergies with the Bank by offering a new line of services to its corporate customer base.
Societe Generale Equipment Finance complements the Group's Specialized Financial Services presence in the USA, which includes operational car leasing and fleet management activity with ALD Automotive and Consumer Finance activity with CGI.