Midland tech dynasty launches The Bank of Rigby
Rigby Capital – sister company to SCC and M2 – leaps into leasing sector
Nigel Jenkins – a senior veteran of corporate leasing at HP, Cisco and Microsoft – wants to turn the tables on his old employers from his base camp at Rigby Capital, the sister firm of services-based reseller SCC.
Jenkins, the GM who joined the business in July having worked at the big three, reviewed the existing process of using third-party brokers to finance deals, as is typical across the channel, and decided to dump it.
“When you use the broker model, you are beholden to others' whims and desires,” he told us.
Quite so, and why lose out on the fees related to leasing agreements when you can afford to set the agenda and charge customers for these services?
The plan is to turn the captive finance business into a £75m-a-year sales organisation by 2018, principally by selling financing to SCC and M2 customers. And though Jenkins knows its leasing products are “no different” to the competition, he reckons size is everything.
“The constraints they [HP, Cisco and Microsoft] created are the opportunities we are focused on – we can execute quicker, are more nimble and local in our decision making,” he told The Channel.
SCC and M2 deal with mid-sized corporate organisations, not the largest institutions and companies that the global vendors sell to directly.
The business is based in Bracknell and has eight employees.
Previously, Jenkins was veep of sales EMEA at HP Financial Services, EMEA MD at Microsoft Financing and European theatre director at Cisco Capital. ®