Mr Michael will manage the marine, aerospace and rail finance businesses. He will report to Ceri Richards, managing director of Specialised Industry Finance.

Mr Michael joins the Bank of Scotland Corporate from Wyless, a wireless networking service provider, where he was CFO. He has a strong background in leasing and asset-based finance and has had senior roles with Dresdner Kleinwort Wasserstein and SG Warburg.

Mr Ceri said: I’m delighted to announce Michael’s appointment to lead Transport. He brings invaluable experience and enthusiasm to the Specialised Industry Finance Division.