Volkswagen Financial Services UK has appointed David Maloney as its new Chief Executive Officer. Maloney replaces Graham Wheeler, who is to pursue another opportunity within the industry, and will be working with Albert van den Bergh, Chief Financial Officer.

Scheduled to start on 1 May, Maloney joins with over 35 years’ experience in the industry having previously worked at Volkswagen Financial Services UK as Business Development Director. In 2011 he was promoted to Joint Managing Director of Volkswagen Financial Services Australia, and since 2014 has been Head of Region Europe West where he oversaw the markets in Norway, Sweden, the Netherlands, Belgium, Portugal and Ireland.

Commenting on his appointment, David 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.”