Global Currency Exchange Network Ltd (GCEN), an international currency broker and payment service agency and Global Custodial Services Ltd (GCS), a corporate custodial services company, announced this Tuesday that they have unified under a single brand - GC Partners.
Under the unified brand, GC Partners offers bespoke foreign exchange (Forex ), hedging, mass Payments , client money, and investment services to institutional and corporate clients.
Based in London, the brand operates across 125 international markets. In 2018, the company completed $5 billion worth of transactions on behalf of its clients, the statement said. In addition to London, GC Partners has offices in Dubai, Malta, Portugal, and Spain.
GC Partners to Offer White Label FX and Payment Partnerships
Due to its Part IV permissions granted by the Financial Conduct Authority (FCA), GC Partners is able to hold and service clients’ money, in addition to offering white label FX and payment partnerships from its proprietary technology offering.
Commenting on the unification, Martin Cox, CEO & Founder of GC Partners, said: “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."
Founded in 2003, GCEN primarily serviced the retail market whereas GCS, which was established in 2013, offered its services to institutional and corporate clients.
As part of its core services, GC Partners with facilitate international payments through FX, as well as provide active and passive hedging solutions, to give its clients control on hedge ratios and overall forex exposure, among other services, the statement said.
“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,” added Andrew Fundell, Chief Commercial Officer.
