Former John Deere vice president EMEA & global trade Nils Jaeger has become president at Volvo Financial Services, according to a news update from the Captives Forum.

Jaeger has also taken the position of chairman of the Captives Forum, succeeding Elliot Lennick vice president of International Sales at MAN Finance International.

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According to his LinkedIn profile, Jaeger worked for John Deere for over fourteen years, beginning in its German sales division and working through management and directorial positions in Germany and Luxembourg until his appointment to president of the Volvo Financial Services Group in Gothenburg, Sweden.

Volvo did not respond to requests for comment by Leasing Life.

The Captives Forum has created its own trade association to run its business, The Trade Association of Manufacturers’ Finance Companies, a not-for-profit company limited by guarantee.

Its asset finance products range from equipment leasing to various types of ‘purchase/use over time’ products such as hire purchase, conditional sale, operating leasing, rental and various financing tools to support dealers and distributors, including factoring and stock finance

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Last October the Captives Forum received an ‘industry organisation of the year’ award following the China Leasing Summit in Beijing.

The award was passed to acting chairman Sven Jirgal, vice president and chief operating officer of Cisco Capital, at the Captives Forum meeting in Madrid by IAA Advisory chairman Derek Soper.

Additional Reporting by Sotiris Kanarus