Aldermore has confirmed George Ashworth has left the position of managing director of asset finance, with immediate effect.

The UK bank said in a statement Ashworth is on gardening leave and it has begun the process of searching for his replacement.

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Mark Stephens, group commercial director, will be leading the business until a replacement is found.

Ashworth’s departure will trigger an election for his position on the board directors at the Finance & Leasing Association.

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