Lex Autolease, the UK’s largest provider of fleet management solutions, today announced the appointment of Tim Porter as the company’s new managing director. 

Porter joins Lex Autolease from its parent company Lloyds Banking Group and replaces Rick Francis, who is taking up a position outside the fleet sector. 

Previously, Porter was commercial director at Lloyds Bank’s small and medium sized (SME) operations in England, Scotland and Wales. 

This role involved the management of more than 2,500 employees and responsibility for the division’s financial, customer service and risk performance.       

A qualified chartered banker and MBA graduate, he has more than 20 years business and finance experience, including 14 years with Lloyds Bank, across a variety of senior management roles. 

Prior to joining the bank he was a regional director at biotech firm Genus plc.  

To ensure a smooth leadership transition, Porter will work alongside Francis until the end of June. 

Porter said: “The opportunity to lead the UK’s largest fleet management provider is very exciting. 

“Lex Autolease has a great proposition and strong foundations as the clear market leader in this sector. 

“I’m looking forward to bringing my skills and experience to the company and to working alongside a talented leadership team.”  

Jakob Pfaudler, managing director, asset finance at Lloyds Bank, said: “Tim brings with him extensive experience of financial services and a passion for client relationships and service excellence.

“His strategic and people leadership credentials make him the ideal candidate to take Lex Autolease through its next phase of growth and to leverage its strong identity and expertise as part of the broader Asset Finance team.”

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