David Maloney has been promoted to the position of chief executive officer for Volkswagen Financial Services UK Ltd (VWFS) and is expected to start on 1 May 2016.
Maloney is to lead the company as it supports Volkswagen Group’s desire to be a leading mobility provider by 2025, replacing Graham Wheeler who has made the decision to pursue another opportunity within the automotive finance industry.
Maloney will be working with Albert van den Bergh, chief financial officer, in developing VWFS (UK) and it’s suite of products and services for the UK market. He joins with over 35 years’ experience in the industry, and previously worked at VWFS (UK) as business development director whilst in post he developed many of the products and services currently used in the market by VWFS.
In 2011 he was promoted to joint-managing director of VWFS Australia and since 2014 has been head of region Europe west for VWFS where he oversaw the markets in Norway, Sweden, the Netherlands, Belgium, Portugal and Ireland.
Maloney said: “It’s fantastic to be coming back to the UK market at such an exciting time. VWFS has seen significant growth culminating in 2015 witnessing almost 373,000 new finance contracts, over 390,000 new insurance and aftersales contracts and a total contract portfolio of over 850,000 customers.
“Our customers’ needs are changing and are demanding more novel approaches to car ownership. This is a truly exciting time for the automotive industry as traditional business models are changing due to internet-enabled technology and services. I’m delighted to be leading the company with Albert and the rest of the board through its next period of growth.”
The changes follow Volkswagen Group’s announcement of its intentions to become a leading mobility provider by 2025 at the Geneva International Motor Show.
This March VWFS appointed Mark Forton as mobility services director. The appointment was made in response to what the company perceived as changing customer needs resulting in an increased demand for more flexible solutions to vehicle ownership and access - and the launch of VWFS' ROUTE2025 programme "route to mobility".
Meanwhile Graham Wheeler (pictured above) leaves the company following a highly successful career spanning some 30-years with a number of captive and independent auto financial services businesses both nationally and internationally.
He joined VWFS 20 years ago and was promoted to the managing director role 10 years ago.
