New York-based currency manager FX Concepts has opened a new European office based in London.
The office, which will focus on business development and client support in all FX Concepts investment and research services, will replace the firm's Paris office - FX Concepts European base since 1993.
'At FX Concepts we have always understood the global nature of our business requires that we offer local customer support of the highest quality,' says John Taylor, Chairman of FX Concepts. 'The London office will provide European clients with easy access to FX Concepts staff in their own time zone and a timely window into our investment and research advisory processes.'
Managing Director Daniel Szor, who will head up the office, adds: 'The move reflects both the increased importance of London as the principal European centre for alternative investments and also the increasing interest from the local UK market in the pure alpha programs in which FX Concepts specializes.'
FX Concepts' increased activity in the UK market has led it to add UK regulation to its existing regulatory relationships. In the US the firm has been registered as an investment advisor with the SEC since 1986. Its new UK subsidiary, FX Concepts (UK) Ltd, is authorized and regulated by the Financial Services Authority (FSA) and, through the European Investment Services Directive, is enabled to conduct its activities on a cross- boarder basis into all European countries.
Background notes: FX Concepts is a global investment management and research firm specializing in foreign exchange and interest rate risk management. The company has more than USD 11 billion under management in currency overlay and absolute return programs for institutional clients worldwide. FX Concepts has extensive experience trading currencies and derivatives in both the developed and the emerging markets. Established in 1981 by its current Chairman John R. Taylor, FX Concepts is headquartered in New York with offices in London, Singapore and Sydney and representatives in Tokyo