Arval UK has announced a change to its executive management team with the appointment of Lakshmi Moorthy as managing director, replacing Miguel Cabaca.
Cabaca has headed-up the UK business since December 2017 and will take up a new position within the group in Spain as managing director.
Having held the UK MD role for more than three and a half years, he leaves the business following a period of sustainable growth, increasing its fleet from 160,000 to more than 175,000 vehicles today.
He said: “It’s been a great journey leading Arval UK and I’m proud of the achievements of the whole team, especially in the last year which has been extremely tough for everyone.
“I’m sure that under Lakshmi’s leadership, the UK business will continue to go from strength to strength.”
Moorthy is expected to start her new role in March, subject to regulatory approval. Already UK-based with an in-depth knowledge of the market, says Arval, she joins from her current role as global retail director within Arval’s head office in Paris.
With more than 20 years of experience in consumer and commercial finance roles, she has worked in countries including the UK, India and France. From 2002, she held various positions at GE Capital before joining Arval in 2015.
She said: “In the last three and a half years Miguel and the team have made incredible progress in developing market-leading solutions for our customers.
“I’ll be looking to build on that strong foundation, continuing our relentless focus to improve customer experience and drive innovation to ensure that Arval UK remains at the forefront of sustainable mobility solutions for businesses and individuals.”
Arval Group announced earlier this month that it was launching a set of new mobility services, which will initially only be available in some European countries.
After having been successfully launched in the Netherlands, the Arval Mobility App is now available in France and Germany. The Arval Mobility Hub is also launching in France.
The services are then set to roll out progressively in the rest of Europe.
The leasing giant says that Arval UK will benefit from insight drawn from across Europe to enhance its own future mobility customer proposition.