"Over the last five years, our leasing business has continued to be profitable," he said.

"I only wanted to ask you not to worry about that leasing business."

The company expanded its leasing business, especially in Europe.

Two years later he started his leasing business.

Analysts said recent tax changes made the leasing business more attractive.

It also would improve Citigroup's standing in the credit card and commercial leasing businesses.

The leasing business caught on in the 1980's as a way for industrial companies to free up cash.

Many banks were driven out of the leasing business.

The leasing business in particular relies far more heavily on borrowing than Xerox's traditional manufacturing.