Raphaels Bank, the commercial foreign exchange specialist, has hired a new Head of Sales to expand and grow its Commercial FX (CFX) business. 11.03.2008

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Jonathan Griffiths brings a wealth of industry experience to add to Raphaels Bank’s growing reputation and traditionally high private banking service levels.

Griffiths joined Raphaels from Ruesch International with a clear focus to drive the growth of the CFX division. Using more than 6 years experience in the sector, he is motivating the team to provide a bespoke foreign exchange service to a variety of businesses.  In particular he sees Raphaels’ FSA regulated status as a unique opportunity for organisations to benefit from the bespoke, individual service of a private bank.

“Over the last few years, the Foreign Currency market has become saturated with small unregulated brokers” confirmed Jonathan.  “The only way the market can survive professionally is to become regulated by the FSA. As an FSA authorised and regulated UK Bank providing foreign exchange, Raphaels Bank is in a strong position to expand into this market and I am looking forward to harnessing the different skills of the team to further strengthen Raphaels’ position as a major force in the foreign exchange industry.

“We are helping customers to avoid the risks involved in international trade, providing up to the minute support specific to the currencies they work with, as well as fixing rates.”

Mike Smith, Director, Raphaels Bank concludes, “The expansion of the CFX team is a major step in Raphaels Bank’s overall business strategy as we continue to develop our market leading services. Every member of the team provides a wealth of expertise and FX industry knowledge, with Jonathan’s vision and leadership now driving them forward. This appointment illustrates Raphaels Bank’s commitment to the commercial foreign exchange market, leading the way in helping companies with foreign exchange exposure to maximise profits in a tough financial climate.”

For further information about foreign exchange market news, please contact CFX department on 0800 587 8722