Challenger bank Aldermore has recruited Tim Bearder as head of specialist vehicle valuations, responsible for the newly create specialist car team.

Bearder’s career spans over 35 years in the motor industry, including senior positions at manufacturers such as Porsche and Aston Martin. Most recently he was Black Book editor at car valuation company cap hpi, where he worked for over nine years.

He will be based in Aldermore’s Leeds office and will report directly to Paul Seddon, head of large value underwriting in Aldermore’s asset finance business.

The specialist car team is initially made up of five members and will focus on relationship management and underwriting expertise for classic and prestige high net worth cars.

Seddon said: “It is vital that we have the right people in place to help us to continue to grow our business. Tim’s expertise and in-depth knowledge in the valuation and specialist vehicle sector, will help us deliver consistently high levels of service to our introducers. He will be a great asset to the team and I am delighted Tim is joining Aldermore.”

Bearders said: “I am delighted to be joining Aldermore to further develop relationships with introducers, as well improving the way we service their needs. My aim is to build on the great work that has already been done in order to ensure we seek out new opportunities to help us increase the support we provide in the specialist car sector. I look forward to working with Paul and the team and I’m confident that my extensive experience will help contribute to the Bank’s overarching ambition to increase market share.”

Aldermore was recently acquired by FirstRand Group for £1.1bn, the parent company of MotoNovo. As a result of the acquisition, FirstRand said Aldermore would be able to use Aldermore’s funding platform in the UK.