Jon Wilkinson, who has been at the helm of Hydock Finance for 40 years as chief executive (and more recently executive chairman), has decided to step down into a non-executive director role from the beginning of 2020.

The business, which celebrated a record 2019 recently expanded its regional broker coverage and is planning to launch a vendor channel in early 2020.

Wilkinson said: “After 40 years of building and running Haydock and two years after the ownership transition, now feels like the right time to step away and let John Jenkins [the incoming CEO] and the team take Haydock into its next phase of growth and development.

“I still plan to be involved in a non-executive capacity, supporting the executive team and maintaining relationships across the industry, but am also looking forward to spending more time out of the business.”

Jenkins has over 30 years of experience in finance, having held senior positions within a number of financial services companies, including Lloyds TSB, GE Capital and Amicus Finance Plc.

Jenkins said: “I have spent the last 12 months working with Jon to transition the business and continue to build on its traditional strengths ready for more growth in the future. Having Jon involved in a non-executive capacity will ensure we don’t lose his years of experience and relationships across the market as we develop the business.”

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Haydock Finance, based in Blackburn, Lancashire, offers a UK-wide broker coverage and in 2019 posted record levels of new business origination, extending the firm’s reach geographically and augmenting their traditional strengths in commercial vehicles, plant and machinery with some strong refinancing deals.

The leasing financing business was first incorporated in 1980 and has since extended its proposition in the specialist sector with aviation, marine and renewable energy deals.

Haydock is also an approved lender under the Enterprise Finance Guarantee scheme operated by the British Business Bank.