Paragon Bank has appointed Dave Wilson as the new managing director of its motor finance division, following the retirement of Julian Rance after 28 years with the company.

Rance will stay on in an advisory capacity for a year to ensure a smooth transition. Since joining Paragon in 1997, he led the motor finance division to significant growth, including a loan book exceeding £300 million and expansion into the electric vehicle and leisure vehicle markets.

Wilson, who joined Paragon in 2017 as head of business development, brings 25 years of experience in financial services, with a strong background in motor finance.

Nigel Terrington, Paragon Banking Group CEO, said: “Julian leaves with our utmost thanks for nearly three decades of excellent service to Paragon. He has built a fantastic business and great foundations for Dave to take forward. We wish him well in his retirement.

“Dave has been with Paragon for seven years and during that time we have been impressed with his drive and passion for his work. We are confident he will be a great success.”