Tandem selects a new Managing Director for its Motor Finance division
Tandem Bank Appoints Motor Finance Veteran David Shrimpton Davis
Tandem Bank, a UK-based digital bank, has announced the appointment of David Shrimpton Davis as the Managing Director of its Motor Finance division. Davis brings over 30 years of experience in financial services to the role, having previously led Moneybarn, the motor finance arm of Vanquis Banking Group [1][3].
The appointment comes at a crucial time for Tandem Bank as it aims to grow its motor finance division further, with the division playing a central role in the UK's push to phase out petrol and diesel cars by 2030 [2]. Under the leadership of new CEO Neil Chandler, Tandem plans to simplify its proposition and focus on helping reduce emissions and supporting greener lifestyles [1][3].
Tandem's Motor Finance division has already experienced significant growth since its relaunch in 2022, with the division's assets growing from £18.2 million to £224 million [2]. The division supports consumers in transitioning their vehicles to more affordable, less polluting options.
David Shrimpton Davis expressed his excitement about joining Tandem Bank, emphasizing the challenge and opportunity in reducing emissions from domestic transport, which accounts for 28% of emissions in the UK [3]. His appointment also aligns with Tandem’s commitment to diversity and inclusion, as Shrimpton Davis is recognized as one of LGBT’s Top 50 Gamechangers for 2023 [1].
The EV and lower-emission vehicle market is maturing, with an increase in used EV and used-lower emission vehicles. Tandem Bank sees a significant opportunity in supporting consumers in reducing emissions, and the appointment of David Shrimpton Davis reflects its ongoing commitment to fostering an inclusive culture [4].
Currently, electric vehicles (EVs) make up a small proportion of the market, but the market is expected to grow as the EV and lower-emission vehicle technology becomes more mainstream and affordable. Tandem Bank's focus on motor finance is key to its next phase of growth, and the bank is well-positioned to support consumers in making the transition to lower-emission vehicles.
References:
[1] Tandem Bank announces new Managing Director for Motor Finance division. (n.d.). Retrieved from https://www.tandembank.co.uk/news/tandem-bank-announces-new-managing-director-for-motor-finance-division
[2] Tandem Bank Motor Finance. (n.d.). Retrieved from https://www.tandembank.co.uk/motor-finance
[3] Shrimpton Davis appointed as Tandem Bank's new Motor Finance Managing Director. (2023, March 1). Retrieved from https://www.financialreporter.co.uk/news/2023/mar/01/shrimpton-davis-appointed-as-tandem-banks-new-motor-finance-managing-director
[4] The Climate Change Committee welcomes the decision to re-instate the phase out of new petrol and diesel cars, now from 2030. (2021, June 17). Retrieved from https://www.theccc.org.uk/2021/06/17/the-climate-change-committee-welcomes-the-decision-to-re-instate-the-phase-out-of-new-petrol-and-diesel-cars-now-from-2030/
- Tandem Bank's new Managing Director for the Motor Finance division, David Shrimpton Davis, comes with a wealth of experience in financial services, having previously led motor finance divisions in the UK.
- With the UK aiming to phase out petrol and diesel cars by 2030, Tandem Bank's Motor Finance division, under the leadership of David Shrimpton Davis, plays a crucial role in supporting consumers to transition to more environmentally friendly vehicles.
- As part of its commitment to fostering an inclusive culture, Tandem Bank has appointed motor finance veteran David Shrimpton Davis, who is recognized as one of LGBT's Top 50 Gamechangers for 2023, to lead its Motor Finance division, which is key to the bank's next phase of growth in the maturing electric vehicle market.
