Volvo Financial Services has promoted Stephen Yonce to vice president of Truck Financial Services for the U.S. division of Volvo Financial Services. In his new role, Yonce will have responsibility for the truck financial services sales team and become a member of the U.S. executive team.

Yonce has been with Volvo Financial Services since 1997. Since then, he has been promoted to roles with increasing responsibility in both sales and operations throughout his tenure, the company noted. Yonce will report to Tom Guse, president of the U.S. division of Volvo Financial Services.

Volvo Financial Services is the finance arm of the Volvo Group. The company provides financial services for the truck, construction equipment, bus, aerospace and marine industries.