Gerard Ryan has been confirmed as the new managing director of motor finance giant GE Capital Woodchester. Mr Ryan, the former finance director, had been acting managing director since March.

Former managing director George Awad has returned to the US to take charge of parent company GE Capital's customer relationship programmes.

GE Capital Woodchester grew rapidly under Mr Awad's control. He masterminded the buy-out and merger with Woodchester Finance but failed to achieve his stated objective of making the company 'number one' in the UK.