Motor finance company Southern Finance has rebranded as Raphaels Finance, adopting the name of its parent company.

Originally established in 1957, Southern Finance Company Limited joined the Lenlyn Group in 2004 and was acquired by group member Raphaels Bank in 2010.

Carl Virgo, head of lending at Raphaels Bank said: "It has become increasingly important to us to align our lending operations much more closely with the Raphaels name so that we can leverage the strength and security of the bank in a more overt way. Now is exactly the right time to do this as we enter a new phase in our growth with the appointment of both Ashley Davies as business development manager looking after our asset finance products, and Patrick Charlton as national sales aanager. The new and used car market is in strong shape and business investment in fleet, plant and machinery is very much on the up."

Virgo highlighted that during transition process the company’s business with brokers and dealers will not be affected.

He said: "The transition process, much of which has already been implemented, will be completely seamless and brokers and motor dealers can rest assured that they can continue to rely on the speed, flexibility and personal touch that sets us apart from the competition and which in turn, puts them in a strong position to capture the burgeoning motor and asset finance market in both regulated and non-regulated business sectors."

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