Rahul Sharma (Editor)

Moneycorp

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Type
  
Private

Products
  
Foreign exchange

CEO
  
Mark Horgan (9 Jan 2012–)

Founded
  
1962

Parent organization
  
Bridgepoint Capital

Industry
  
Financial Services

Owner
  
Bridgepoint Capital

Headquarters
  
London

Number of employees
  
500

Moneycorp httpswwwmoneycorpcomGlobalImages1FACEBOOK

Key people
  
Colin Buchan (Chairman),Mark Horgan (Chief Executive)

Website
  
http://www.moneycorp.com/

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YouTube

Moneycorp


Moneycorp (TTT Moneycorp Limited) is a UK-based company offering foreign exchange (bureau de change) services to individual and corporate customers. It operates in a number of countries and also provides bulk foreign notes and travel money services via a number of travel companies and airlines.

Contents

History

The company was established in 1962 and was formerly known as Town Tickets and Tours Limited. It changed its name to TTT Moneycorp Limited in April 1993 and then changed this to Moneycorp, dropping the TTT as part of a rebranding in 2008.

In April 1979 Moneycorp obtained a licence from the Bank of England to operate bureaux de change in Central London.

In December 2006 the Royal Bank of Scotland (RBS) Special Opportunities Fund became a significant shareholder in the Group, as it purchased a stake from the Shlewet Family Trust, the company's former owners, becoming the sole institutional investor in the Group, with a total shareholding of 99.9% in November 2011. After 8 years Moneycorp was bought by Bridgepoint for £212 million.

In August 2015 the company bought a 45% stake in Brazilian currency company Novo Mundo Corretora de Câmbio.

Operations

The company headquarters are in Knightsbridge, London, UK, with additional offices around the UK and in Ireland, Spain and the United States.

The company is split into three trading divisions;

  • Bureau de change - the company operates 30 bureaux de change branches. Primarily at airports, including Heathrow London and London Gatwick, and shopping areas in city centers.
  • Commercial Foreign Exchange (CFX) - established in 1999, it provides foreign exchange to businesses and individuals, with spot and forward currency delivery, currency options and priority worldwide payments.
  • Wholesale Banknotes - provides banknotes to businesses and FX providers in the Greater London area. Clients are split across several categories, including: banks, bureaux de change, government bodies, high-street retailers, money transfer businesses and corporate clients.

    • Regulation

    As of 1 November 2009, Moneycorp was authorised and regulated by the Financial Conduct Authority for the provision of payment services. Moneycorp is also registered as a Money Service Business with HM Revenue and Customs (HMRC) under the Money Laundering Regulations.

    Moneycorp Financial Risk Management Limited is also authorised and regulated by the FCA for the conduct of designated investment business.

    References

    Moneycorp Wikipedia
    (Text) CC BY-SA