Chris Sutton, who has worked for Lloyds TSB for 20 years, moves from managing director, expatriate banking, within the international banking business.
Black Horse is making no comment, but Sutton’s appointment suggests that David Oldfield, managing director of the asset finance division, decided a new approach was needed.
Motor retail finance has become fiercely competitive as point-of-sale provision has ebbed away to high-street and direct lenders.
Sutton succeeds John Woolley, who left the company at the end of March. At the time Oldfield issued a statement saying: “John leaves us with our respect and thanks.
After Woolley went, Black Horse regional director for the north Mike Whytock took over as acting managing director.
Whytock did not apply for the permanent position.