Aldermore, the specialist lending and savings bank, has appointed Richard Jones to be the new Managing Director of its MotoNovo Finance business. MotoNovo – which is based in Cardiff – helps thousands of people to buy their next car, van or motorcycle, by offering finance through trusted dealerships across the UK.

Richard joins from Lloyds Banking Group where he’s been CEO of their Motor Finance and Leasing businesses since 2018, which encompasses the market leading Black Horse and Lex Autolease brands and online car finance. 

Richard has enjoyed a long and varied career at Lloyds Banking Group since joining on their graduate finance programme. He has held a range of senior roles across the Group and was promoted to run the combined motor businesses after first successfully running Black Horse from 2015.

Prior to this, he held several senior positions in the Group’s insurance division where he was an Executive Director from 2010 to 2015 and a member of the Insurance Executive team. He led a number of business areas over that time including Life Assurance, Individual and Corporate Pensions, Investments and Retirement Planning.

From 2016 to 2021 Richard was Chairman of the Finance & Leasing Association.

He attended Sheffield Business School, graduating in business studies and is a qualified chartered management accountant. He has also completed the Harvard Business School Executive programme.

Richard will begin at Aldermore in early 2023 and will join its Executive Committee. He will report to Aldermore’s CEO Steven Cooper. 

Steven Cooper, CEO of Aldermore Group, said: “I’m delighted to welcome Richard and have him join the team at Aldermore. He brings a wealth of experience having run the UK’s largest motor finance business for a number of years, and his skills and expertise will be a huge asset as we aim to grow our MotoNovo business”.

Richard Jones, Managing Director of MotoNovo said: "I’m really looking forward to getting started and working with the Aldermore and MotoNovo teams. I’m joining a great, well-established business which offers a fantastic service to people looking to buy their next car, van or motorbike. I’m confident that we can do even better – by improving our offering and building even stronger relationships with customers, we can grow our share of the market”.

Press release issued by Aldermore Bank, September 2022

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