European financial services giant Fortis has restructured its leasing companies to move them under a new, single, umbrella: Fortis Lease Group.

Based in Luxembourg, Fortis Lease Group will be responsible for the strategy, coordination and follow-up of all of Fortis's leasing activities.

"By increasing the visibility and cohesion of Fortis's leasing businesses, the creation of Fortis Lease Group should speed up development into a leading European leasing operator," a company statement said.

Fortis's leasing operations would be transferred to Fortis Lease Group through a series of intra-company deals.

Fortis Lease specialises in leasing products for cars, machinery, forklift, IT equipment and real estate. Fortis Lease operates in Belgium, the Netherlands, Luxembourg, France, Spain, Portugal, the United Kingdom, Germany, Italy and Poland.