NEXTGEAR Capital has announced the appointment of Amrit Singh to the role of finance director.
He will be responsible for overseeing the growth strategy of NextGear Capital to continue to offer a first-class funding programme to used car dealers.
Singh joins after eight years with Deutsche Bank, London, and brings with him a wealth of experience in the financial services industry, including the management of equity stock funding to hedge funds and pension funds. Prior to Deutsche Bank, he spent five years in retail accounting, working for national household names such as Next and Signet (H Samuels, Ernest Jones).
As part of the Cox Automotive Group, NextGear Capital provides a cost-effective and simple way to buy and manage stock from different sources. With more than 60 auction partners, NextGear Capital funds 100 per cent of CAP clean plus auction and delivery fees to free up a dealer’s cash flow.
Liam Quegan, MD of NextGear Capital, said: ‘We have seen exceptional growth over the past year and we are proud to help dealers across the UK free up capital on stock, enabling them to grow, invest and enhance their business in other ways.
‘Amrit will add a vast amount of experience, having worked in the fast-paced world of banking for the past eight years. We look forward to working with him going forward.’
Singh said: ‘I’m excited to be joining NextGear Capital and the Cox Automotive Group at this key time. There is massive growth potential for the business over the next 12 months and the change we can make in the automotive industry is very exciting. I look forward to driving this growth with the team.’