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13th December 2010

Raphaels Bank appoints Tony Wilson to spearhead new CFX Division

Raphaels Bank, the leading independent bank has appointed Tony Wilson as head of its restructured Commercial Foreign Exchange Division. Tony joins Raphaels from Travelex where he was MD of Travelex Global Payment Solutions for Europe.

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Raphaels Bank is a long established independent banking house and Tony's remit is to establish Raphaels as a key provider of Commercial Foreign Exchange services to Corporates, SMEs and private individuals. He brings over 8 years experience in CFX and 11 years financial services sector experience in total, including roles at Equifax, GE Capital Mortgage Insurance and Clydesdale Bank.

Tony said: "Historically, Raphaels has been a bit of a best kept secret in the commercial foreign currency market and this is something I want to change. Following a restructure of the CFX division with significant investment in systems and processes, we are now in a strong position to compete head on with the high street banks and with non-bank CFX operators to deliver a highly competitive and efficient service with a zero error rate.

"In particular, we have built a strong proposition for SMEs who are so reliant on foreign exchange transactions and speed of access to funds but want the assurance of dealing with an FSA regulated business. As a private bank we can provide clients credit without the need to transfer their day to day banking to us."

Raphaels Commercial Foreign Exchange business provides spot and forward transactions based on highly competitive rates. Through investment in an online solution, Raphaels has become highly competitive in the "e-commerce" space providing a fast and reliable solution for clients to book their currency requirements and make their international payments.

Miles Roberts, CEO of Raphaels Bank said:  "We are delighted to have Tony on board. We have a really powerful proposition and with Tony at the helm of the Commercial FX division we are set to go from strength to strength."

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