Leading foreign exchange company Travelex has announced that Philip Bowcock has been appointed as Chief Executive Officer (CEO), effective immediately. Philip will take over from Richard Wazacz, who is stepping down as CEO after three years of leadership.

Philip Bowcock most recently served as Executive Chair of NM Money Group, which operated a number of consumer-facing financial services businesses including Eurochange, one of the UK’s leading high street and online foreign exchange retailers. He previously spent five years at William Hill plc as Chief Financial Officer and CEO, where he headed a transformation that re-shaped the business. In March 2021, as interim CEO, Philip led Countrywide plc through its successful sale to Connells.

Philip is currently Chair of Victoria Plumbing Group plc and has a proven track record in leading consumer-focused, multi-site businesses with a strong digital presence. He previously held senior finance positions at Cineworld Group Plc, Luminar Plc, Barratt Developments Plc and Tesco Plc.

Alexander Filshie, Chairman, Travelex said,

“This announcement marks the next phase of our journey at Travelex, focused on adapting to our changing customer requirements and industry environment, further strengthening our foundations, and building for long-term success. I am confident Philip will drive our strategic priorities and build for long-term success across our retail and wholesale businesses. Philip brings a wealth of experience from consumer-focused and travel money organisations. He is well placed to lead the Travelex team in the developing and changing global travel money market.

“On behalf of the Travelex Board and Executive Leadership Team, I would like to sincerely thank Richard for his contributions throughout the last three years and extend a warm welcome to Philip in his new role, we look forward to working with him.”

Philip Bowcock, Chief Executive, Travelex said,

“I am delighted to join Travelex at this pivotal time in its journey. The business has shown remarkable resilience, having navigated the challenges of the pandemic and made significant progress in recovering and stabilising its operations over recent years. I look forward to building on its strong foundations to further strengthen the core business, enhance operational efficiency, and ensure sustainable growth.

“Travelex is well positioned to adapt to the changing forex landscape and meet the evolving needs of our customers. I look forward to working closely with the Board, Executive Leadership Team, and our talented colleagues across the globe to build on this momentum, enhance our capabilities, and continue delivering exceptional value to our customers.”

About Travelex

Founded in 1976 Travelex has grown to become one of the market leading specialist providers of foreign exchange solutions and services, operating across the entire value chain of the foreign exchange industry in more than 20 countries. We have developed a growing network of ATMs and stores in some of the world’s top international airports, major transport hubs, premium shopping malls and city centres.

Travelex has built a growing online foreign exchange platform, and we also process and deliver foreign currency orders for major banks, travel agencies and hotels worldwide. In addition, we source and distribute sizeable quantities of foreign currency banknotes for customers on a wholesale basis – including central banks and international financial institutions. We also offer a range of remittance and international money transfer products around the world.