Alpha Group announces formal launch of new Bristol office
Alpha Group International plc (LON:ALPH), formerly known as Alpha FX, announces the formal launch of a new sales office in Bristol.
The Bristol office was initially established in January 2022, to focus on providing Alpha’s existing offering to smaller corporates (UK companies with turnovers of £5m – £30m) compared to those the Group has historically served. The Bristol Operation has a sales team that leverages the existing operations and infrastructure of the Group’s FX Risk Management (FXRM) division in the same manner as its FXRM offices in Amsterdam, Milan and Toronto.
Having only captured a fraction of the UK corporate market, the Board believes that the Group already has a substantial runway for growth. However, the UK SME market represents an additional and attractive market opportunity that can be captured efficiently, cost-effectively and without distracting from our wider focus on larger corporates and institutions. The Bristol Operation is already off to a strong start and has generated revenues in excess of £2m in 2022.
UK companies in this turnover range are often even more underserved by traditional providers than their larger peers. By providing these clients with Alpha’s distinctive approach to FX risk management and access to established capabilities, the Group can provide them with a much-needed level of service and enter this market with a significant competitive advantage.
The company commented:
“One of the core considerations when deciding to launch an SME division was ensuring we could build and sustain a high-quality team with a resolute focus on becoming a leader within the SME market. Achieving this meant that we needed to avoid becoming an incubator for front office employees wishing to eventually work with larger businesses – something that would have naturally occurred if the SME division was based within or near the London office.
Having a separate office in Bristol, where the cost of living is lower, but the quality of life is high, ensures that the financial and lifestyle dynamics available to the team are equally as attractive as they are in our other offices”.