The name of the UK’s largest leasing firm has been confirmed in the wake of Lloyds TSB’s takeover of HBOS, including its Lex subsidiary.

Now called Lex Autolease, the move merges Lex, the current largest leasing firm in the UK, with the number three company Autolease to create a new leasing superfirm.

“This name reinforces the strong heritage of both companies and confirms an ongoing commitment to providing excellent service to customers,” said managing director Nigel Stead.

The new brand identity and logo is still being developed and will be revealed in the coming months.