Toyota Financial Services has announced the appointment of Doug Gillies as managing director, replacing David Betteley who retired in October.

Following an early career in banking, and various positions in corporate and motor finance with Lloyds Bowmaker, Gillies worked in the Lloyds Bowmaker/Toyota Finance joint venture before joining the newly formed Toyota Financial Services (UK) PLC in 1998.

In announcing the appointment, Ichiro Kiyoshima, chief executive officer and president TFS Europe and Africa Region said, “Under the leadership of Doug, I am confident TFSUK will continue to grow and will overcome the current difficult trading conditions facing our industry.”