Moneyway, the motor finance arm of Secure Trust Bank, has appointed a new managing director to develop a new growth strategy at the near and sub-prime lender.
John Simpson will replace Andy McMorine as the managing director at the lender, having spent 30 years in the motor finance and remarketing industry at a number of different companies.
Simpson started his career with Lloyds Bowmaker/Lloyds UDT before before moving on to GE Capital Woodchester and latterly to Manheim Europe where he held the position of director of strategic projects.
His management experience is hoped to help Moneyway move on to the next stage in its development.
McMorine will continue to be a part of the Moneyway set up, having helped grow the business since his appointment as head of motor finance in March 2013.
His new role will be national sales leader, with responsibility for implementing the strategic decisions made by Simpson and turning them into new business.