Nick Williams is appointed managing director of the Lloyds Banking Group Transport division, responsible for fleet leasing business Lex Autolease and consumer motor finance operation Black Horse.

Lex Autolease is the biggest leasing company in the UK. He replaces outgoing managing director Richard Jones, who leaves after 28 years with the banking firm, and the last seven heading up the transport division.

Both Lex Autolease and Black Horse have a significant auto funding footprint in the UK, responsible for one in 10 electric vehicles while recently passing the £1 billion of new funding for electric and plug-in electric hybrid vehicles.

Williams will work alongside the existing management team, focusing on leading the Group’s sustainable transport commitments, which includes achieving net zero emissions across the business by 2030.

Commenting on his leadership role, Williams said: “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.”

Williams joined Lloyds Banking Group in 2006 and has spent the last 16 years working in senior leadership roles in both consumer and corporate businesses, most recently responsible for the Group’s transformation and digital progress.

Previous appointments included heading up the largest digital bank in the UK for the Group and the integration of two heritage mortgage businesses to create one of the largest lending businesses in Europe.