Black Horse boss Richard Jones has left the company to take over at rival form MotoNovo, it has been confirmed.
Jones had been with Lloyds Banking Group for a number of years, most recently serving as the managing director of its Black Horse and Lex Autolease brands.
He initially joined Lloyds as part of its graduate finance programme before stepping up to run Black Horse in 2015.
During his time at the outfit he also served as chairman of the Finance & Leasing Association between 2016 and 2021.
Now however, in a surprise move, he has departed the group to become managing director of MotoNovo, which is owned by retail bank, Aldermore.
He will begin in his new position 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 am 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’
Jones himself added: ‘I am 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.’
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