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Compliance is key for Close Brothers Motor Finance's new credit risk director

Luke Sugden, Close Brothers Motor Finance

Close Brothers Motor Finance appoints Luke Sugden as credit risk director as part of a push to boost dealers' FCA compliance and meet consumer expectations.

Sugden will also play a key role in ensuring compliance for both Close Brothers Motor Finance and its dealer network in the evolving regulatory environment the industry faces.

James Broadhead, CEO of Doncaster-based Close Brothers Motor Finance, said: “Since the Financial Conduct Authority (FCA) assumed responsibilities for the regulation of consumer credit, finance providers and dealers across the industry have been adjusting their operations to ensure consumer expectations are matched, protection is enhanced and compliance is guaranteed.

“Luke will play a significant role in continuing this work at Close Brothers Motor Finance, as well as further strengthening our dealer servicing.”

Sugden’s financial services career began at GE Capital in a range of roles from marketing, credit systems, database management and fraud management, before he entered credit risk management.

When GE was purchased by Santander, he then directed the team that launched the successful 123 Credit Card. He went onto lead the Retailer Branded Cards credit team, which was subsequently sold to NewDay.  

Sugden said: “Close Brothers Motor Finance is a hugely respected brand and I am delighted to have this opportunity to bring my credit experience and make a difference to the business. I’m relishing the challenge ahead.”

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