The new Black Horse Finance is now the clear motor finance sector leader and so in a stronger, more secure position, says managing director Chris Sutton. “We can provide reassurance to the market in the currently fractious economic climate,” he said.

Black Horse, which grew with the acquisition of sector runner-up Bank of Scotland Dealer Finance (BoSDF), has separate teams in the four areas where it operates – motor, motorcycles, leisure and fleet. BoSDF closes in September.

“Our priority is a smooth transition for dealers previously with BoSDF who choose to switch to BH,” said Sutton.

“We’re less interested in volumes of business and more concerned with returns, and in forging sustainable relationships with dealers. 

He believes the competitive environment for finance providers has changed significantly in the past year or so, creating a major influence on how business was being conducted.

“There are now fewer providers, as a result of withdrawals from the market, much reduced direct competition and consolidation, such as GE/Santander,” said Sutton.

“The priority for the remaining players has shifted from new business volumes to achieving acceptable returns for stakeholders, especially given the increased cost of capital. 

“Our focus on prime customers will continue and we expect to achieve our planned new business volumes this year.”

Chris Sutton’s new senior management team includes Tim Smith (head of motor, north, from BOSDF regional director, south), Paul McGill (head of motor, south, from heading BOSDF sales and distribution) and Mike Whytock (head of joint ventures, motorcycles, caravans and marine, from Black Horse regional director, north).