Alpha FX Group PLC Launch of institutional division (3627I)
March 21 2018 - 3:00AM
UK Regulatory
TIDMAFX
RNS Number : 3627I
Alpha FX Group PLC
21 March 2018
21 March 2018
Alpha FX Group plc
("Alpha" or the "Group")
Launch of institutional division
Alpha FX Group plc (AIM:AFX), a founder led, UK-based foreign
exchange service provider, is pleased to announce that it is
expanding its service offering to support institutional
clients.
The Group has recruited a number of key individuals with a
wealth of experience in supporting institutional clients with more
effective and efficient strategies for managing currency
volatility. In addition to expanding the Group's total addressable
market, Alpha's proven value add service offering and leading
innovative technology will significantly reduce the time and
resource traditionally required from investment managers when
managing and reporting on cross-currency exposures.
The institutional division will be jointly led by Ash Hall and
Sam Marsh, both of whom already have significant experience leading
a successful institutional foreign exchange division from
inception. They will report directly to the Executive Directors of
the Alpha Board.
In line with the Group's existing business model, the
institutional division will not charge its clients consultancy or
software subscription fees, instead monetising its services through
a margin on transactions (as with a traditional foreign exchange
provider). In doing so, the team intend to make their service
accessible to the many institutions that wish to improve the
efficiency and effectiveness of their currency management, but who
have often been discouraged from doing so due to time or cost
restraints.
In order to incentivise the key personnel within Alpha's
institutional division a newly formed subsidiary, Alpha FX
Institutional Limited, has been incorporated under Alpha FX
Limited, the Group's existing subsidiary and main trading entity.
The share capital of Alpha FX Institutional Limited will be 60%
owned by Alpha FX Limited, with the balance split between five key
individuals, including Ash Hall and Sam Marsh. Commencing three
full years following incorporation, the individuals will have the
option to convert a percentage of their holding into Group shares
each year, based upon strict performance criteria. At conversion,
and in exchange for converting their shares into the Group, Alpha
FX Limited's shareholding over Alpha FX Institutional Limited will
commensurately increase.
Ash Hall, Director of Alpha FX Institutional Limited,
commented:
"In our experience, investment managers are often underserved by
banks and traditional foreign exchange providers. Alongside the
perennial problem of FX volatility, reporting obligations are
becoming ever more complex, placing ever greater strains on
investment managers. The experience that we have assembled,
combined with Alpha's advisory approach and technology, means that
we will be able to provide investment managers with genuine insight
and guidance to help them better manage the impact exchange rate
volatility can have on their investments and LP's."
Sam Marsh, Director of Alpha FX Institutional Limited added:
"The culture and reputation at Alpha was a deciding factor in
starting this journey, with Alpha's entrepreneurial mindset and
focus on creating highly tailored solutions mirroring our own
ambitions to provide an institutional foreign exchange offering
that truly puts the needs of its clients first."
Morgan Tillbrook, Founder and Chief Executive Officer of Alpha
FX Group plc said:
"We had identified the institutional foreign exchange market as
a potential opportunity for Alpha at the time of our IPO and are
delighted to have formed a team with such experience and
understanding of the market's specific characteristics and needs.
We believe that this is an exciting step which will prove
beneficial for all stakeholders and we look forward to updating
shareholders on progress."
Enquiries:
Alpha FX Group plc via Alma PR
Morgan Tillbrook, Founder and CEO
Tim Kidd, CFO
Liberum Capital Limited (Nominated Adviser and Sole Broker) Tel: +44 (0) 20 3100 2000
Neil Patel
Richard Bootle
Alma PR (Financial Public Relations) Tel: 07780 901979
Josh Royston
Helena Bogle
Rebecca Sanders - Hewett
Market Abuse Regulation
This announcement is released by Alpha FX Group plc and contains
inside information for the purposes of the Market Abuse Regulation
(EU) 596/2014 ("MAR") and is disclosed in accordance with the
Company's obligations under Article 17 of MAR. The person who
arranged for the release of this announcement on behalf of Alpha FX
Group plc was Tim Kidd, Chief Financial Officer.
Notes to Editors
Alpha is a founder led, UK-based foreign exchange service
provider focused on managing exchange rate risk for UK corporates
and institutions that trade internationally. The Company's primary
client base consists of businesses and institutions across the UK
and Europe that have a requirement to convert currency for a
commercial purpose, such as buying or selling goods and services
overseas, repatriating profits, or expatriating payroll. Since it
was incorporated in 2010, Alpha has been able to build and retain a
high-quality client base.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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