Rebecca McNeil, chief executive of Close Brothers Retail, has been named as the new chair of the Finance & Leasing Association (FLA).

McNeil has been in her role as Close Brother Retail chief since July 2020, and was previously chief executive of Close Brothers Motor Finance. Prior to that, McNeil has held senior roles at GE Money, AMEX and Barclays, where she served as managing director of the asset finance division, chief operating officer for Barclays Business, and managing director of product for all business and corporate lending.

Rebecca McNeil, chief executive officer at Close Brothers, said: “I’m honoured to be joining the FLA Board. The Association is a formidable advocate for our industry because of its broad membership – that expertise will be vital as we seek the necessary regulatory reform to improve our business environment so that we can ultimately drive good customer outcomes across everything we do.”

McNeil will be succeeding Richard Jones, who has held the post since 2017. Commenting on the news, Jones said: “I have thoroughly enjoyed chairing the FLA over the last 4 years, in particular through the recent challenges we have faced as an industry. I’m delighted to be handing over the reins to Rebecca, her knowledge of FLA markets and her insights on the challenges facing lenders position Rebecca well. I wish Rebecca every success in helping the FLA steer through its next chapter, including the challenges and opportunities of Net-Zero.

Stephen Haddrill, director-general of the FLA, added: “On behalf of the Board and the FLA staff, I would like to thank Richard for his service during the last four years. He has provided strong leadership and insight to the Association throughout his tenure and particularly through the pandemic. We are all delighted Rebecca will be our Chair and look forward to working with her.”

The latest motor finance statistics from the FLA revealed a year-on-year fall in new business volumes of 21% in September