Geely’s Volvo Cars has named Steve Catlin the new managing director of Volvo Car Financial Services UK (VCFSUK) effective today.

He runs the business which provides wholesale funding to the retail network and finance products for customers purchasing new and used cars.

VCFSUK was established at the start of 2021 as a 50/50 joint venture between Volvo Cars and Santander Consumer (UK).

Catlin has extensive experience in the UK automotive sector, having held senior roles with a number of manufacturers. He joins from Volkswagen Group UK where he was most recently director of sales, people and network development for Audi UK.

He said: “I believe financial services plays a critical role in supporting the transformation we are witnessing in the industry. How we deliver innovation and provide a flexible platform for our customers and partners in the future will be key factors in securing success.”

Previous managing director David Baddeley retired on 31 August.

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