V12 Vehicle Finance (V12VF) has named David Nield as its new managing director, replacing David Mercer.
Nield brings more than 25 years of experience in the finance industry to the role, including senior positions at Barclays, Iveco Capital Europe and GE Capital Motor Finance.
He was formerly Secure Trust Bank’s chief operating officer, a role he held for eight years having worked for the business since July 2009.
In his new role as managing director of V12VF, Nield takes over leadership of the Vehicle Finance business, working closely with Secure Trust Bank’s board as the company accelerates its growth ambitions.
Nield said: “I am hugely excited to take on this new role. We have one of the broadest propositions in the market, having successfully launched our V12 Used Vehicle Stocking business in 2019 and the recent launch of our new Prime proposition which builds on our well established Near Prime business.
“We partner with some pretty amazing businesses which help customers buy the cars they want and need through a variety of channels. We aim to both deepen those relationships and develop new ones, leveraging the breadth of our products, our experience and of course our great team.”
The Vehicle Finance business currently operates under two brands, Moneyway for its Near Prime proposition and V12 Vehicle Finance for its Prime and Used Vehicle Stocking business. These used car finance solution are designed to help independent and franchised dealers across the UK source, buy, sell and finance used vehicles more efficiently and more often.