Moneycorp

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TTT Moneycorp Limited
Private
Industry Financial Services
Founded 1962 (1962)
Headquarters London, UK
Key people
Colin Buchan (Chairman),
Mark Horgan[1] (Chief Executive)
Products Foreign exchange
Services International money transfer
Owner Bridgepoint Capital
Number of employees
+500[2]
Website http://www.moneycorp.com/

Moneycorp (TTT Moneycorp Limited) is a UK-based company offering foreign exchange (bureau de change) services to individual and corporate customers.[3] 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.

History[edit]

The company was established in 1962 and was formerly known as Town Tickets and Tours Limited.[4] 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.[5]

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,[6] becoming the sole institutional investor in the Group, with a total shareholding of 99.9% in November 2011.[7] After 8 years Moneycorp was bought by Bridgepoint for £212 million.[8][9]

In August 2015 the company bought a 45% stake in Brazilian currency company Novo Mundo Corretora de Câmbio.[10]

Operations[edit]

The company headquarters are in Knightsbridge, London, UK, with additional offices around the UK and in Ireland, Spain and the United States.[11]

The company is split into three trading divisions;

  • Bureau de change - the company operates 30 bureaux de change branches.[12] Primarily at airports, including London Gatwick, and shopping areas in city centers.[13]
  • 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.[14]

Regulation[edit]

As of 1 November 2009, Moneycorp was authorised and regulated by the Financial Conduct Authority for the provision of payment services.[15] 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.[16]

References[edit]

External links[edit]