The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have fined R. Raphael & Sons plc (Raphaels) for failures in the management of its outsourcing arrangements.
Raphael Finance has quit the motor finance and asset finance markets.
Former HPI head of automotive finance Darren Greenyer has joined Raphaels Bank as deputy head of lending.
Southampton-based motor finance specialist Southern Finance has rebranded as Raphaels Finance, adopting the name of its bank owner.
