International currency broker and payment service agency, Global Currency Exchange Network Ltd (GCEN), and corporate custodial services company, Global Custodial Services Ltd (GCS), are combining under a single brand – GC Partners.
GC Partners offers institutional and corporate clients bespoke FX, hedging, mass payments, client money and investment services– targeting clients looking for a bespoke solution to match their specific needs, with a quick turnaround on new account opening. This service is attractive to all types of businesses but in particular to new funds and investment vehicles, who don’t have the AUM to attract the attention of mainstream banks.
GC Partners is one of the few specialist service providers to be granted Part IV permissions by the FCA, giving it full client money permissions. The firm is therefore able to hold and service clients’ money as well as offer white label FX and payment partnerships from its proprietary technology offering.
As well as unifying under one brand GC Partners has changed the structure of the business, making every employee a partner through an Employee Ownership Trust (EOT). Every employee will benefit from a share of the business to ensure the continual high level of service to all clients”.
Martin Cox, CEO & Founder of GC Partners, says: “The breadth of our offering comes at a time where institution’s budgets are under increasing pressure – smaller and mid-size asset managers need reliable, bespoke and cost-effective services that give a competitive edge. We are established, agile and regulated, and offer a solution that can bypass the complexity of the mainstream banks to drive the best results for our clients.
“Our dedicated team deserve the recognition and reward from their hard work and with the EOT initiative we have created a sense of real ownership and reward for every employee within the company.”
Andrew Fundell, Chief Commercial Officer, says: “Unifying GCEN and GCS under one brand to become GC Partners gives us the scale, infrastructure and regulatory framework to disrupt the FX and client money sector and help give smaller players access to market-leading services traditionally only accessible by bigger institutions.”
GCEN was founded in 2003 aimed primarily at the retail market, and GCS in 2013 to offer a wide range of services to institutional and corporate clients.
GC Partners operates across 125 international markets and completed USD5 billion worth of transactions on behalf of clients in 2018. Based in London, it has offices in Dubai, Malta, Portugal and Spain.
