Motor finance provider Moneyway has appointed Richard Cox as its new head of operations.

Cox, who joined Moneyway as transformation manager in 2015, has been responsible for driving transformational changes within the motor business.

In his new role, he will be responsible for the management of operational functions – a team of over 60 people – including underwriting, pay-out, customer services and collections. 

Cox will also support and oversee the development and implementation of strategic transformational change to sustain and develop the motor business.

Cox said: “I am really pleased to move into this key role at Moneyway. As head of operations, there will be a number of new challenges to face and I am looking forward to working with the operational teams.

“Putting our customers first is at the heart of what Moneyway does, and as head of operations, this will remain the number one priority.”

Solihull-based Moneyway, the motor finance arm of AIM listed Secure Trust Bank, recently announced a 58% increase in the number of proposals the firm received, as well as a 45% increase on the number of acceptances during 2015.

The provider has also witnessed a growth of 20% in its lending balances over the same period, increasing from £137.9 million to £165.7 million.