Tandem appoints new MD of Motor Finance
Tandem Bank has today announced that David Shrimpton Davis has been named as the new managing director of its Motor Finance division.
Shrimpton Davis brings with him deep rooted experience in leading and growing a motor finance business having formerly led Moneybarn – the successful motor finance arm of Vanquis Banking Group.
Shrimpton Davis also brings a wealth of operational and customer experience gained over a 30-year career in financial services which will support Tandem’s ambitions to maintain a laser-focus on the customer, having held several senior roles across customer operations and service at Citigroup.
As a strong advocate of diversity and inclusion, including being named as one of LGBT’s Top 50 Gamechangers in 2023, his appointment also reflects Tandem’s ongoing commitment to fostering an inclusive culture.
The appointment marks another milestone for the growing, award-winning bank, as it continues its ambition for profitable growth and making greener lifestyles more inclusive for everyone – with motor finance playing a central role.
Tandem’s motor finance division helps to support consumers transitioning their vehicles to more affordable, less polluting options as the UK looks to phase out petrol and diesel cars from 2030. Re-launching in 2022, motor finance has seen substantial growth from £18.2m to £224m1.
Under the leadership of its new CEO, Neil Chandler, Tandem intends to grow this offering further – seeing the area as key to Tandem’s next phase of growth under a simplified proposition.
Commenting on his appointment, David Shrimpton Davis, said: “Tandem is an organisation with a clear purpose which I’m thrilled to join.
“The UK has a significant task ahead as it looks to reduce emissions – with domestic transport accounting for a whopping 28%2.
“The challenge remains significant, with EVs remaining a small proportion of the market. But offering lower-emission vehicles is also a positive step. This brings a huge opportunity as more and more consumers look to reduce emissions.
“Tandem, with its award-winning proposition and superb growth, can take advantage – helping many reduce emissions and save money along the way. I can’t wait to get started!”
Commenting on the announcement, Tandem’s new CEO, Neil Chandler, said: “It’s great to have David onboard – he brings a wealth of experience and will help the business in ensuring the motor finance proposition lives up to its potential.”
The Climate Change Committee has recently welcomed the decision to re-instate the phase out of new petrol and diesel cars3, now from 2030 as confirmed in the Government’s recent consultation4.
Tandem sees a significant opportunity as it supports consumers in reducing emissions as well as saving them money. The EV and lower-emission vehicle market continues to mature, with a significant increase in used EV and used-lower emission vehicles entering the market.