Global Reach Group, which provides FX risk management and payment services, says it has acquired key elements of EncoreFX’s Canadian operation. According to the firm, this is the latest step in its international expansion plan, following its entry into Spain and the Netherlands in 2019.
Founded in 2001 and headquartered in the UK, Global Reach now has operations in six countries, including offices in South Africa and Cyprus. In 2016, Inflexion Private Equity acquired FC Exchange and became majority shareholder of Global Reach Partners, with the companies combining to form Global Reach Group. In addition to risk management and international payments, the firm offers strategic hedging solutions to a wide range of corporate and institutional clients, alongside managing overseas transfers for individual customers.
Nicholas Fullerton, CEO at Global Reach, says: “This is another important milestone in the growth of Global Reach Group, as we continue to strengthen our business and expand into new geographies. We are pleased to welcome our new colleagues in Canada to the group and look forward to collaborating with their talented and well-established team. This is a challenging time for everyone, and the health and well-being of our people everywhere remains our top priority.”
Paul Lennox, president of Global Reach Canada, adds: “It is a pleasure to be joining Global Reach Group and I look forward to working closely with Nicholas and the wider team. We are excited to begin building upon our shared strengths to maintain excellent service for our clients, while taking advantage of the group’s innovative technology offering to enhance our customer experience. Our team shares many similarities with Global Reach, and we look forward to contributing to the continued success of the Group.”
Alongside traditional products, Global Reach offers a broad range of Options through its fully FCA regulated subsidiary, Global Reach Markets Ltd. Combining talented people and innovative proprietary technology solutions, the Group transacts almost £6bn annually, cementing its position as an industry leader.