Tandem Designates a Fresh Managing Director for Its Motor Finance Division
Tandem Bank, a digital challenger bank based in the UK, has appointed David Shrimpton Davis as the Managing Director of its Motor Finance division. With a 30-year career in financial services and several senior roles at Citigroup under his belt, Shrimpton Davis brings a wealth of experience to his new role[1][2].
Shrimpton Davis previously led Moneybarn, the motor finance arm of Vanquis Banking Group. In his new position, he will be responsible for driving the future growth of Tandem's Motor Finance business[3].
Tandem Bank's motor finance division supports consumers in transitioning their vehicles to more affordable, less polluting options. The division re-launched in 2022 and has seen substantial growth, with assets increasing from £18.2m to £224m[4].
The EV and lower-emission vehicle market is maturing, with an increase in used EV and used-lower emission vehicles entering the market. Tandem Bank sees an opportunity to help consumers reduce emissions and save money[5].
David Shrimpton Davis acknowledges the UK's challenge in reducing emissions, particularly from domestic transport. The Climate Change Committee welcomes the decision to phase out new petrol and diesel cars from 2030, a move that the UK government has confirmed in a recent consultation[6].
Under the leadership of its new CEO, Neil Chandler, Tandem Bank intends to grow its motor finance offering further. The bank's ambition for growth in the motor finance sector remains, with a focus on making greener lifestyles more inclusive for everyone[7].
Shrimpton Davis is a strong advocate of diversity and inclusion. He was named as one of LGBT's Top 50 Gamechangers in 2023[8]. Tandem Bank's motor finance proposition is expected to reach its potential with the addition of Shrimpton Davis.
The motor finance division plays a central role in the bank's ambition for profitable growth and making greener lifestyles more inclusive for everyone. Tandem Bank's ambition for growth continues, with motor finance being seen as key to its next phase of growth under a simplified proposition[9].
The UK government's decision to phase out new petrol and diesel cars from 2030 presents an opportunity for Tandem Bank's motor finance division to support consumers in transitioning to more affordable, less polluting options. Tandem Bank's motor finance division continues to focus on this mission[10].
David Shrimpton Davis expresses excitement about joining Tandem Bank and looks forward to contributing to its growth and mission[11].
References: [1] Tandem Bank press release, 2023. [2] Financial Times, 2023. [3] Tandem Bank press release, 2023. [4] Tandem Bank financial reports, 2022-2023. [5] Tandem Bank press release, 2023. [6] UK government consultation document, 2023. [7] Tandem Bank press release, 2023. [8] LGBT's Top 50 Gamechangers list, 2023. [9] Tandem Bank press release, 2023. [10] Tandem Bank press release, 2023. [11] Tandem Bank press release, 2023.
- Shrimpton Davis' appointment as Managing Director of Tandem Bank's Motor Finance division could catalyze growth in the personal-finance sector, given his extensive background in banking-and-insurance and finance industry.
- At ffnews.com, one can find reports detailing Tandem Bank's ambition to make greener lifestyles more inclusive for everyone, with its motor finance offering playing a crucial role in achieving this goal.
- In March 2023, it was announced that Shrimpton Davis, a strong advocate of diversity and inclusion, joined Tandem Bank, further strengthening the bank's commitment to fostering an inclusive business environment in the finance industry.
