The IAA-Advisory board has appointed Lindsay Town as its first chief executive as part of a major development of its business.

A statement from the consultancy firm said the post had been created "to help lead the company in these changing and challenging times for the industry," and that founder Derek Soper would continue as chairman.

Town joined IAA-Advisory in May 2014 as a director.

Lindsay Town’s 36 year career in the asset finance industry has spanned several organisations, including Barclays, LloydsTSB, HBOS and PricewaterhouseCoopers and across a range of roles from transactional to initiating and leading material strategic change, as well as acquisitions and disposals in both the UK and USA, said IAA-Advisory.

Prior to taking early retirement in 2009, Town was a managing director of Bank of Scotland, Corporate, where he was responsible for leading a wide portfolio of asset finance and leasing businesses, which consisted at its peak of approximately £18bn of funded assets and over 2,250 colleagues.

In the period after 2009 Town maintained a presence in the European leasing market as non-executive director at consultancy businesses The Asset Works, and at personal business Kent Asset Solutions. The latter allowed him an ‘umbrella for certain trading activities’ in the market for advisory functions, which included work with Link Financial last year.

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Town gave a speech on the relevancy of Big Data and the importance of accurate data and record keeping for leasing businesses in Warsaw at the Leasing Life annual conference in 2014, and has been a contributor to the title.

In 2015 he joined the Leasing Life advisory board and was on the judging panel for the Leasing Life awards in Budapest.

Town said: "I am delighted to have been asked to take on the role of chief executive at IAA-Advisory. The skills and capabilities of the people involved in IAA have been proved time and again in diverse roles, through several business cycles.

"As we face the future it is clear that we need to have a business that can assist a wide range of clients to shine some light on emerging trends, to grasp the resulting strategic opportunities, and help to fix the inevitable tactical bumps in the road. I am convinced that the IAA team offers a fresh and modern approach and I am immensely proud to be part of the next chapter."

Derek Soper, IAA-Advisory founder and chairman said: "The industry needs a combination of experience and forward thinking to help it move into a new era. Lindsay brings those attributes and more; we will benefit hugely from his involvement and guidance and we are all looking forward to working with him to take the company into its new environment."