FNG Exclusive… FNG has learned that London based, FCA regulated agency broker and execution specialist Tavira Financial saw a 13% increase in Revenue during FY 2025 (fiscal year ended March 31, 2025), although the company continued to produce losses on the bottom line.

Revenue at Tavira came in at £36.0 million in 2025, up by 13% from £31.7 million in 2024. Despite cutting Admin expenses, Tavira had a Net Loss of £1.6 million in 2025, up from a £1.1 million loss the previous year.

Changes at Tavira

The 2024-2025 year was one of change at Tavira, with controlling shareholder and longtime CEO Eliot Goodfellow stepping aside from the board and from day-to-day management duties. Tavira brought on board former Bank of New York, Citi, and Credit Suisse executive Mark Griffiths as the company’s new CEO.

Tavira also abandoned plans to launch a retail CFDs business in Dubai. We had exclusively reported in 2022 that Tavira onboarded CFDs industry executive Andrew Gibson to build out an FX and CFDs brokerage business for the group. Andrew Gibson has since moved on to offshore CFDs broker SGT Markets.

Tavira overview

Tavira was founded in 2005, initially to trade derivatives, but with a clear vision to expand both the firm’s product offering and geographic coverage to better serve clients. Today, Tavira offers a comprehensive suite of world-class financial services to a diverse group of global clients, including asset managers, hedge funds, government institutions, corporates, family offices and high net worth individuals. Tavira is headquartered in London and maintains offices in Monaco, Sydney and Dubai.

Tavira operates across three core lines of business:

• Agency Brokerage — Specialising in global execution services for across multiple asset classes.
• Asset Management — Providing fund managers with access to Tavira’s operational infrastructure.
• Corporate Brokerage — Supporting clients through a full service of capital raising and corporate advisory services.

FY 2025 review

Tavira said it experienced a year of growth in its core business lines, seen in the financial results for gross revenue (+13%) and average headcount (+6%). The increase in revenue can be attributed to growth in Agency Brokerage (equities 150%, metals 71%), Corporate Brokerage (43%), and Asset Management (127%). Although not fully reflected in the balance sheet, net assets reduced (-23%) due to restructuring and exceptional costs incurred during the year across business lines which are no longer deemed core to the company, CFDs and Custody.

Division review

Agency brokerage continues to provide a stable source of income for the group, becoming increasingly important following the decision to close the CFD business in 2023/24 as noted above, and the recent decision to restructure the Custody business.

Corporate Broking continues to grow along with the success of clients; outlook remains positive though macro conditions remain influential.

The asset management strategy of creating new partnerships with investment managers has been beneficial, enabling the company to offer a broader range of funds and strategies to investors. This has resulted in an increased AUM, and ultimately helped drive an increase in both management and performance revenues.

Tavira’s Australia branch has been operational for three years and continues to grow, with reported increases in both revenue (155%) and profitability (1375%). The Tavira name within Australasia is becoming increasingly well known, evidenced in the results and expanding client base.

In Dubai, Tavira took the decision to close its Custody, whilst continuing to wind-down the CFD business as described above. The subsequent restructuring project and exceptional costs has resulted in a downturn in performance for the branch during the year.

Outlook

Overall, although revenues increased year on year, the additional costs associated with exiting businesses have contributed to the Group reporting a loss for the year. Tavira said it is confident this downturn is isolated to the 2024/25 reporting period. Following the arrival of the new CEO, Mark Griffiths, from the Bank of New York, and with a focus on pursuing sustainable top-line expansion across core businesses; discontinuing or restructuring underperforming areas; and fostering greater cross-collaboration across the company, management said that the future of Tavira looks positive and exciting.

Tavira results 2025 by geo

Tavira income statement and balance sheet 2025