Type | Private company |
---|---|
Industry | Financial Services |
Founded | 1962 |
Headquarters | Knightsbridge, London, UK |
Key people | Bassam Shlewet (Chairman), David Postings (Chief Executive) |
Products | Foreign exchange |
Employees | +600[1] |
Website | http://www.moneycorp.com/ |
Moneycorp (TTT Moneycorp Limited) is a UK 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.
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The company was established in 1962 and was formerly known as Town Tickets and Tours Limited.[2] It changed its name to TTT Moneycorp Limited in April 1993 then changed this to just 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.[3]
In December 2006 the Royal Bank of Scotland (RBS) Special Opportunities Fund became a significant shareholder in the Group. It purchased an undisclosed stake from the Shlewet Family Trust, which controls the company.[4][5] It served 2.8 million customers and did trades worth more than £11 billion.[5]
Based on data taken on November 1, 2010 from companies house Moneycorp was the second largest non-bank foreign exchange company in the UK based on profits.[nb 1]
Its headquarters are in Knightsbridge, London, the United Kingdom with additional offices around the United Kingdom and in Australia, Spain, the United Arab Emirates, and the United States.
The company is split into three trading divisions;
As of 1 November 2009, Moneycorp was authorised and regulated by the Financial Services Authority for the provision of payment services.[7] Moneycorp is also registered as a Money Service Business with Her Majesty's Revenue and Customs (HMRC) under the Money Laundering Regulations.