Lombard appoints new managing director

Posted on 7 Aug 2013

The UK’s largest asset finance provider, Lombard, has announced Richard Hemsley as its new managing director with effect from 02 September 2013.

Hemsley takes over from Ian Issac, managing director of the Lombard’s business and commercial division, who has been interim managing director at the company since May this year.

Richard Hemsley, set to take over as Lombard managing director in September

Previously chief logistics officer for The Royal Bank of Scotland (RBS) Group’s international banking division, Hemsley said he was relishing the chance to lead a key part of the RBS group.

“Lombard already has a strong reputation in the marketplace as a business that remains committed to the UK economy and one that continues to innovate its product offering.

“I will be looking at how we can take this to the next level by enhancing our service to our customers and helping to stimulate increased capital investment within the UK economy.”

Lombard is the market leader in asset finance with more than 20% market share. The company has seen an increase in lending of over 30% since 2009.

Susan Allen, chief executive of RBS Group’s Customer Solutions Group, which Lombard is part of, said the Group is looking to support UK business investment.

“Richard has a strong track record of leadership and customer focus which will be invaluable in building on Lombard’s ongoing success story. Lombard has continued to increase lending throughout the economic downturn and now that we are seeing some signs of recovery and increased business confidence, we are keen to continue to support UK businesses’ investment plans and deliver growth.”