John Hughes has been promoted from head of sales to managing director at Investec’s motor finance arm, Mann Island.
The move comes as Mann Island looks to reposition itself as a ‘lender with broking capabilities.’
He has replaced its managing director Jo Jenner who has moved to a role at parent bank Investec.
Hughes has been in the industry since 1981, working for Lloyd’s motor finance business, now known as Black Horse. He joined Mann Island Finance in 2000 and led the business to its eventual sale to Investec in 2014.
Hughes said: “The last three years have seen a transformation at Mann Island; our dealer driven ‘can do’ culture, which has long been a key part of our approach is now seeing the results of significant investment and a smart step to combine our brokerage heritage with our own lending capabilities. It is a move that will enable us to offer a best in class approach of product, people and processes.
“As we always hoped, the entrepreneurial spirit present in both Mann Island and Investec along with the resources and investment that have been made available to us have significantly accelerated our growth trajectory.
“It is a great time to be given the opportunity to lead the business with a significant pipeline of technological innovation planned in the weeks and months ahead. We are very well positioned to provide the type of smarter and deeper level of support that dealers are looking for to help their businesses.”