According to FleetNews, Royal Bank of Scotland (RBS) closed its car and van leasing business Lombard Vehicle Management.  The operation will be operated by ALD Automotive in a five-year deal.

The report states the business will still operate as Lombard Vehicle Management under a white label deal being managed by ALD Automotive, which is owned by Societe Generale.

The new arrangement will be officially launched in June/July 2012.

Lombard Vehicle Management had a risk fleet of 70,621 vehicles and a number five ranking in last year’s FN50, while ALD Automotive had a number six ranking with 63,561 vehicles.

A joint operation would give a combined risk fleet of more than 130,000 vehicles and would effectively put it in the number two spot, behind Lex Autolease but above LeasePlan, based on 2011 figures.