Porter joins Lex Autolease from parent company Lloyds Banking Group, where he was commercial director of Lloyds Bank’s small and medium-sized (SME) operations in England, Scotland and Wales. His role involved the management of more than 2,500 employees and responsibility for the division’s financial, customer service and risk performance.

A qualified Chartered Banker and MBA graduate, Porter has more than 20 years’ business and finance experience, including 14 years with Lloyds Bank, across a variety of senior management roles. Prior to joining the bank he was a regional director at biotech firm Genus plc.   

Commenting on his appointment, Porter said: ‘The opportunity to lead the UK’s largest fleet management provider is very exciting. Lex Autolease has a great proposition and strong foundations as the clear market leader in this sector. I’m looking forward to bringing my skills and experience to the company and to working alongside a talented leadership team.’  

Jakob Pfaudler, managing director, asset finance at Lloyds Bank, said: ‘Tim brings with him extensive experience of financial services and a passion for client relationships and service excellence. His strategic and people leadership credentials make him the ideal candidate to take Lex Autolease through its next phase of growth and to leverage its strong identity and expertise as part of the broader Asset Finance team.’

To ensure a smooth leadership transition, Porter will work alongside Rick Francis until the end of June.