Tandem Names a New Managing Director for its Motor Finance Division
Tandem Bank Appoints David Shrimpton Davis as Managing Director of Motor Finance Division
Tandem Bank, a leading financial institution, has announced the appointment of David Shrimpton Davis as the new Managing Director (MD) of its Motor Finance division. This move comes as the EV and lower-emission vehicle market is maturing, with a significant increase in used EV and used-lower emission vehicles entering the market.
David Shrimpton Davis brings over 30 years of financial services experience and deep expertise in motor finance, particularly from his prior leadership at Moneybarn, the motor finance arm of Vanquis Banking Group. His background includes extensive operational and customer service roles across major institutions such as Citigroup, equipping him with a strong focus on customer-centric strategies.
Shrimpton Davis is also recognized as a diversity and inclusion advocate, having been named one of LGBT’s Top 50 Gamechangers in 2023. This aligns well with Tandem’s commitment to fostering an inclusive culture.
Under Shrimpton Davis's leadership, Tandem Bank aims to expand its motor finance business significantly. This strategy is part of Tandem’s broader ambition to promote sustainable and inclusive growth, by enabling greener lifestyles that are accessible to a wider population. Since its relaunch in 2022, Tandem’s motor finance division has grown rapidly from £18.2 million to £224 million, reflecting the rising market demand, especially for used electric vehicles (EVs) and lower-emission vehicles, as the UK phases out petrol and diesel cars by 2030.
Tandem’s motor finance division supports consumers transitioning their vehicles to more affordable, less polluting options. The division focuses on profitable growth, helping consumers reduce vehicle emissions while saving money, capitalizing on the maturing EV and low-emission vehicle market by offering inclusive motor finance options, maintaining a strong customer-centric approach, with an emphasis on operational excellence and service quality.
Neil Chandler, Tandem's new CEO, welcomes Shrimpton Davis's appointment and believes he will help the business reach its potential. The appointment of Shrimpton Davis reflects Tandem Bank's ongoing commitment to fostering an inclusive culture and driving sustainable, customer-focused growth in motor finance.
The growth of Tandem's motor finance division continues to be significant, having increased from £18.2m to £224m after re-launching in 2022. This growth is particularly important as the UK faces a significant task in reducing emissions, with domestic transport accounting for 28%. The government has confirmed the phase out of new petrol and diesel cars in its recent consultation, and Tandem Bank views motor finance as key to its next phase of growth under a simplified proposition.
In summary, Tandem Bank's appointment of David Shrimpton Davis signals its intent to leverage his industry experience and commitment to inclusion to drive sustainable, customer-focused growth in motor finance, supporting the UK’s environmental goals through financial products tailored for greener vehicle adoption.
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