Setterfield brings 13 years’ experience in forecasting future residual values at GE Capital Fleet Services, latterly as senior European analyst, where he had oversight of future market value assumptions for all European platforms. His role also involved reviews of RV setting methodology in several countries, with a key focus on process optimisation to deliver rigour and consistency across all forecasting functions.

CAP’s chief executive, Ian Rendle, said: ‘Dylan is the ideal choice to build on our future residual value strengths and bring fresh, innovative approaches to driving continual improvement.

‘He brings to us real-world expertise gained in the field and has the right track record in forecast modelling and methodology to drive CAP’s already powerful reputation in the area of future residual value benchmarking to the next level.’

Setterfield joins other recently recruited staff including Derren Martin, who has taken a role leading the Black Book Live team, and market insight and valuations expert, Adrian Rushmore, who has joined CAP as operations director. The investment in key senior figures follows the company’s acquisition of CAP last year by investment specialists, Montagu Private Equity and forms part of a drive to provide class-leading quality to customers.

Setterfield said: ‘I am excited not just by CAP’s ambitions and the company’s strategic direction, but its clear commitment to invest and develop people with real market expertise together with a determination to exceed customer expectations. There are great teams in place at every level of CAP and a great spirit across the business and I’m looking forward to the times ahead.’

Rendle added: ‘Overall, the investment in people across all the critical functions at CAP over the past eight months has given us great capacity and culminated in the strongest team in our history. We are now focused on a very exciting future as we drive growth through unrivalled quality and product excellence.’