Westpac will shut down its troubled RAMS Financial business, which it has unsuccessfully tried to sell and which is currently under investigation by the corporate watchdog, ending the brand’s 33-year run in Australia.

RAMS was founded by John Kinghorn as Registered Australian Mortgage Securities in 1991, and its woolly mascot Raymond helped it become one of the best-known non-bank mortgage brands alongside Aussie. RAMS was once the largest non-bank originator, funder and servicer of home loans in Australia.