Mann Island Finance has replaced its managing director Jo Jenner who has moved to a role at parent bank Investec.

Mann Island head of sales John Hughes has taken over leadership of the asset finance business.

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Hughes has been in the industry since 1981, working for Lloyd’s motor finance business, now known as Black Horse. Mann Island was founded in 1991; Hughes joined in 2000 and was with the business during its sale to Investec in 2014.

Mann Island Finance has been targeting the dealer network as a lender with broker capabilities and Hughes’ appointment will continue with this approach, Mann Island Finance wrote in a release.

Hughes said: “The last three years have seen a transformation at Mann Island; our dealer driven ‘can do’ culture, which has long been a key part of our approach is now seeing the results of significant investment and a smart step to combine our brokerage heritage with our own lending capabilities. It is a move that will enable us to offer a best in class approach of product, people and processes.

“As we always hoped, the entrepreneurial spirit present in both Mann Island and Investec along with the resources and investment that have been made available to us have significantly accelerated our growth trajectory.

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“It is a great time to be given the opportunity to lead the business with a significant pipeline of technological innovation planned in the weeks and months ahead. We are very well positioned to provide the type of smarter and deeper level of support that dealers are looking for to help their businesses.”