Articles
Bibby Financial Services Heads Across The Channel
Bibby Financial Services has further expanded its European operations and
has launched a new company in France. The opening in spring 2005
marked a turning point in the French financial arena as it was the first
time in more than 30 years that a non-bank owned or top French listed
company has been granted a licence to operate a factoring company in
France.
The new Lyon-based firm is the first UK-owned factoring outfit to set up in
France and operates as an independent entity to provide business finance to
small and medium-sized enterprises.
Director Francois Rossignal who joined the Bibby Financial Services group
in the UK over three years ago will head the new company up Francois, has
been part of a team investigating the opportunity of setting up a factoring
operation in France for the past two years.
Francois said: “Although factoring is a well-known funding alternative
among the 2.5 million small and medium-sized enterprises in France, they
are served by a ‘Parisian elite’ of finance houses. Bibby Financial
Services’ personable and flexible approach to the market provides a
stronger offering to a clear segment of the smaller business market. The
launch of our French company is a great opportunity to replicate in Europe
what has proven to be a successful business model for Bibby Financial
Services in the UK.”
