Aldermore, the specialist lending and savings bank, has appointed Richard Jones as managing director of its MotoNovo Finance business. 

MotoNovo, based in Cardiff, offers finance through UK dealerships.

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He joins from Lloyds Banking Group where he’s been CEO of its motor finance and leasing businesses since 2018, which encompasses Black Horse and Lex Autolease brands and online car finance. 

Jones joined Lloyds Banking Group as part of its graduate finance programme and has held a range of senior roles across the Group, including a stint running the combined motor businesses after first running Black Horse from 2015.

From 2016 to 2021 Jones 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.

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Jones will begin at Aldermore in early 2023 and will join its executive committee and 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”.

In a LinkedIn post, Richard Jones, managing director of MotoNovo said:  “I know many peers and friends have trodden the path of leaving a company after long service and whilst the decision to move on was clear to me, I underestimated how emotionally challenging leaving would be.”

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