English Polish Hungarian Czech Slovak
RedSands

MotoNovo

MotoNovo Finance

Welsh entrepreneur Julian Hodge turned around a small loss making car finance business Anglo Auto Finance, which grew strongly and was later acquired by Standard Chartered Bank, becoming Chartered Trust, itself subsequently purchased by Lloyds TSB and merged into what today is Black Horse. Sir Julian Hodge established a new finance company shortly after the disposal of Anglo Auto. A largely regionally focused player, by 1999 the business was experiencing difficulties due to it being sub-scale and struggling to compete with the much larger players who dominated the market. Under new leadership the business set about a major change program, with a clear Vision to become the UK's leading independent motor finance business. An absolute focus on dealer finance, a real entrepreneurial spirit and a willingness to embrace change and innovation enabled Carlyle Finance to grow in scale, reputation and profitability. At a time of exits and consolidations in the independent finance sector, Carlyle continued to win friends amongst the dealer community

In 2006, WesBank, South Africa's leading car financier acquired the business. It was a significant investment, by a company that had the belief and funds to allow the Carlyle Finance business to realise its true potential. New premises, investment in technology and widescale recruitment of talent began to lay the foundations for future success.

Today, the business is the fastest growing, highest returning prime motor finance company in the UK, with over 105,000 live customers, a balance sheet in excess of £650m and annual profits of over £25m. Nor has the success been purely financial; dealer and customer satisfaction continues to be extremely strong.

The story demonstrates that even in a challenging market, a clear vision and passion can transform a small company into a market leader. At the start of 2012, the business took the decision to re-brand as part of a strategy aimed at re-energising the motor finance sector. Proud of the journey to date, the new brand is designed to open the business to new dealers and to capture the imagination of consumers.

The next stage of the journey is embraced within the new name’s Latin translation

Moto - Moving, driving forward

Novo - Refresh, renew, innovate, change

MotoNovo Finance is a new brand name for a business that has a rich heritage and a clear commitment to the motor trade.

www.motonovofinance.com

Red Sands Insurance Company (Europe) Limited is licensed and regulated by the Gibraltar Financial Services Commission under the Financial Services (Insurance Compaies) Act 1987 (see FSC website). It is a member of the UK's Financial Services Compensation Scheme, Financial Ombudsman Scheme and The Association of British Insurers.
Registered office: Level 3, Ocean Village Business Centre, 23 Ocean Village Promenade, Gibraltar (Company No. 87598). Copyright © 2014 Red Sands Insurance.