The joint venture of Fiat Chrysler Automobiles and Crédit Agricole will be led in the UK by Roberto Bellavia and by Michael Briante in Germany.

Alex Hughes, managing director of FCA Bank Group UK, said: “The launch marks a further step change in the business, broadening its appeal across the UK fleet market, from pan-European corporate fleets, to serving the FCA dealer network and supporting businesses across the UK to find the right leasing solution.”

Leasys was started in September 2001 and currently manages a fleet of more than 150,000 cars and commercial vehicles, covering all makes, including brands produced by Fiat Chrysler Automobiles.

The company is already active in France and Spain, in addition to Germany and the UK, and aims to expand to all countries where FCA Bank already operates, which covers 18 countries from Finland to Morocco.