Arval UK has appointed Lakshmi Moorthy as its new managing director as Miguel Cabaca moves to head up Arval Spain.

Lakshmi Moorthy is expected to start her new role as MD of Arval UK in March, subject to regulatory approval

Moorthy joins from her current role as global retail director within Arval’s corporate head office in Paris, but is already UK based with an in-depth knowledge. She is expected to start her new role in March, subject to regulatory approval.

Moorthy brings more than 20 years of experience in consumer and commercial finance roles, and has worked in countries including the UK, India and France. From 2002, she held various positions at GE Capital before joining Arval in 2015.

Miguel Cabaca is departing the UK business to become managing director of Arval Spain. During his 3.5-year tenure in the UK, Arval has increased its fleet from 160,000 vehicles to well over 175,000 and has boosted its EV uptake in the UK.

Cabaca said: “It’s been a great journey leading Arval UK and I’m proud of the achievements of the whole team, especially in the last year which has been extremely tough for everyone. I’m sure that under Lakshmi’s leadership, the UK business will continue to go from strength to strength.”

Moorthy continued: “In the last 3.5 years Miguel and the team have made incredible progress in developing market-leading solutions for our customers. I’ll be looking to build on that strong foundation, continuing our relentless focus to improve customer experience and drive innovation to ensure that Arval UK remains at the forefront of sustainable mobility solutions for businesses and individuals.”