Fleet News

Stones to head Chartered Trust expansion

UDT sales director Phil Stones has taken a new job at Chartered Trust after almost a decade with the Lloyds Bank subsidiary, with the company looking to expand its motoring interests. He joins Chartered Trust as executive director with responsibility for the finance house's motor and leisure division as it seeks to expand its activities in the corporate car finance and dealer sectors.

His experience across all aspects of the fleet funding business will be employed in winning new business from daily rental and contract hire companies to finance their operations. Stones said he wanted to increase the number of cars Chartered Trust financed from the current level of 6,000 units a year to around 30,000 in three years. He will also be responsible for repackaging Chartered Trust's retail car finance operation and adding new impetus to win additional business from car dealers but will have no involvement in the company's car leasing division ACL - which is treated as an entirely separate company.

Stones started his career in the motor finance industry as an account manager with Forward Trust in 1974 before joining UDT in 1988 and progressing to the board in 1992.

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