ALD ready to conquer Asia with Jeremy Cleary and Sujit Reddy
ALD Automotive’s plans to enter the South East Asian market are beginning to take shape. Jeremy Cleary and Sujit Reddy, both veterans at ALD Automotive, will lead the joint venture in the region.
Joint venture
Earlier this year, ALD Automotive announced plans to set up a joint venture in Malaysia with Mitsubishi UFJ Lease & Finance Company (MUL). The new joint venture will operate as ALD MUL Mobility Services Malaysia.
Jeremy Cleary has been appointed Regional Chief Commercial Officer South East Asia, a position he will combine with that of Acting Sales Director for Malaysia. Sujit Reddy will take on the role of CEO for ALD in Malaysia and will oversee further joint ventures with MUL.
ALD MUL Mobility Services is expecting to shortly incorporate its business in Malaysia.
“We expect to be on the ground in Kuala Lumpur as soon as there is an easing of entry restrictions into the country’ said Mr Reddy, referring to the COVID-19 lockdown in Malaysia. It is expected that operations could start by end of Q3.
Regional Development
“The creation of the first joint venture in Malaysia is expected to be a springboard for further development in the key markets in the region,” added Mr Cleary.
“It’s premature to comment on what other geographies we’re looking at, but we’re clearly not entering Malaysia without the intention to expand,” said Mr Reddy, who was instrumental in negotiating the deal with MUL.
Mobility solutions
As the name ALD MUL Mobility Services indicates, it is their intention to offer more than just leasing.
“These countries are ahead in terms of their relationship towards ownership and their experience in shared mobility” explained Mr Cleary. “It’s very important to get to know the value of fleet in these new geographies.”
“Our core product will be full-service leasing for the corporate market,” added Mr Reddy, “but we are also seeing this region as one that should also have shared services.”
First mover
Around fifteen years ago, ALD was one of the first international leasing companies to set up shop in Eastern Europe. Over the last few years, it successfully expanded its footprint into South America. The South East Asia region is a next logical market to enter, which should provide corporate international customers with a more consistent approach.
“It’s important to get into these markets and have the first-mover advantage,” said Mr Reddy.
Sujit Reddy has been with the group for close to twenty years. In 2005, he moved to Mumbai to set up the ALD office in India, which he led for about eight years. In 2013, he moved back to London, working on various group projects. In the last two years, he led the Chinese business up until the sale at the start of 2020.
Jeremy Cleary was Head of International Sales – New Business at ALD Automotive Headquarters in Paris. Previously, he was Regional Sales Manager Western Europe.
Image: Jeremy Cleary (left), Sujit Reddy (right) (source: ALD Automotive)
