Peter Cakebread, managing director of Marshall Leasing, has announced his plans to retire after spending 30 years steering the company through challenging times in the fleet finance market.
Having joined the company in 1990, Cakebread is set to retire in full on 30 April after being “instrumental in establishing Marshall Leasing as a leading fleet finance company.”
He said: “Together, we have built a business with a great reputation for dedication to customer service. Marshall Leasing has been my passion and through my involvement with the BVRLA, including a two-year stint as chairman, I have contributed to the development of the industry I love.
“We have benefited from industry leading levels of staff retention, with colleagues genuinely enjoying our family-style work environment rooted in our Marshall of Cambridge heritage. This is my proudest achievement - creating a genuine customer centric culture, in which teams can thrive.”
The company is owned by Bank of Ireland subsidiary, Northridge Finance, and currently operates a fleet of more than 8,500 vehicles with a net book value of more than £100 million.
James McGee, managing director of Northridge Finance, said: “Peter stands as one of the industry’s leading experts and this is reflected in the numerous industry awards he has received.”
Cakebread was one of the first industry professionals to be inducted into the International Asset Finance Network (IAFN) Hall of Fame in 2018.
The award is designed to recognise the exceptional contribution of industry leaders across fleet finance, retail motor finance and technology, and Cakebread was nominated “as one of the most respected and long-serving executives in the industry, including two years as chairman of the British Vehicle Rental and Leasing Association from 2013-2015.”
McGee added: “Peter has led Marshall Leasing professionally and patiently during these three years and the level of change during this period for the Marshall team shouldn’t be understated. He will leave us with a really strong business set for future growth and built on very solid foundations.”
Cakebread left education with a Masters in Economics from the University of Cambridge in 1980, when he was picked up on a graduate training programme at Herondrive. Over his seven year stay at the company, he progressed to the role of national accounts manager before leaving in 1988.
Then, after a short period as operations director at Norfolk Finance, he joined Marshall Leasing in 1990.
Reminiscing on his time at Marshall Leasing, Cakebread concluded: “I have truly been blessed to spend my career with great people, in an intellectually stimulating industry and one in which I have enjoyed a lot of fun, alongside the success. Now seems an appropriate time for me to retire and hand over the reins to the next generation. The business is strong, growing and well-structured to meet the challenges of the next stage in its evolution. I am leaving with a great many fantastic memories, and enduring friendships.”