Nick Williams has been appointed managing director of Lloyds Banking Group’s transport division, spanning its Black Horse and Lex Autolease motor finance and leasing businesses.

Nick Williams, managing director of the Lloyds Banking Group transport division

He replaces Richard Jones who assumed leadership of the two brands in 2018 under a switch to a combined structure and is now leaving the group after 28 years to assume the role of managing director at rival firm MotoNovo Finance.

Williams joined the group in 2006 and has spent the last 16 years working in senior leadership roles in both consumer and corporate businesses. His most recent work has focused on driving transformation and digital progress, bringing his expertise in delivering growth and technology to evolve the business units.

In his new role, Williams will lead the strategic and commercial growth plans across Black Horse and Lex Autolease. This includes a continued push on the group’s sustainable transport commitments under a focus to achieve net zero emissions across the business by 2030.

The appointment comes as Lloyds Banking Group passes the milestone of £1bn worth of new funding for electric and plug-in hybrid vehicles across both the transport division brands. The group is now responsible for one in every 10 electric vehicles registered on the UK’s roads.

Williams commented: “The motor finance and leasing requirements from both our business and private customers has changed significantly in recent years, with a transition to sustainable methods of transport high up the agenda. My new role will allow me to work across both brands to ensure we are offering practical solutions that support the transition towards a zero-emission future, while guaranteeing our customers receive the very best services and propositions on the market.

“Lex Autolease and Black Horse are market leaders in vehicle leasing and funding and continue to lead the way in helping individual drivers and fleets to access the right vehicle that meets their financial and sustainability needs.”