New leadership for Lex Autolease
02 October 2018
Author: Sean Keywood
Lloyds Banking Group has named a new managing director of motor and leasing, whose responsibilities will include running Lex Autolease.
In a new combined leadership structure, Richard Jones will assume responsibility for Lex - the UK's biggest leasing company - while continuing to run motor finance provider Black Horse, where he currently serves as managing director.
Jones has worked for Lloyds - which owns Lex and Black Horse - for more than 20 years, and held senior positions within its insurance division before moving to Black Horse in 2015.
Since becoming its managing director, he is said to have driven the growth of Black Horse through investing significantly in dealer training, dealer support and digital and self-serve optionality.
Lex's current managing director, Tim Porter, announced in August that he planned to retire, and the coming weeks will see Jones working closely with Porter to ensure a smooth transition.
Jones's new role begins on 1 November.
He said: "This is a fantastic opportunity to lead Lex Autolease and Black Horse forward through an exciting period of change in our markets.
"The success of both businesses is founded on the expertise and the efforts of our colleagues, delivering for our customers through successful partnerships, relationships and stakeholder engagement.
"The automotive industry is going through a period of transformation, and we have an important role to play in helping fleets and individual drivers get the right vehicle for the right job, with the financial support that best meets their needs."