Argentex Group announces new headquarters

RNS Number : 9988N

Argentex Group PLC

27 May 2020

 

Argentex Group announces new headquarters

London, 27 May 2020 - Argentex Group PLC, ("Argentex" or "the Group"), the U.K. listed provider of foreign exchange services to institutions, corporates and high net worth private individuals today announces the completion of terms for a new London headquarters as momentum behind its growth strategy gathers pace.

The new premises located at 25 Argyll Street, London, is managed by W.RE. The new headquarters will support the significant expansion of headcount across all areas as Argentex recruits to meet the growing demand from its diversified client base for its leading foreign exchange services and advice.

Staff will be equipped with state-of-the-art facilities across an 12,000 Sq Ft area which, designed by Loop Interiors is focused on enhancing employee interactivity whilst promoting their health and wellbeing.

Argentex has been based on Old Bond Street since 2015 in which time it has delivered an unbroken period of profitable growth. Whilst the business continues to follow Covid-19 government guidelines with all employees successfully working remotely, the new office will be available to use from the end of August.

Harry Adams and Carl Jani, Co-CEOs of Argentex Group PLC said: "Securing a new office space that will support the next stage of our ambitious growth strategy is a significant milestone for the business. Since listing in June last year, the business has gone from strength to strength. The new office will further enable us to nurture and attract leading talent and work collaboratively and safely to provide the very best FX services and advice to our growing client base."

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For further information please contact:

FTI Consulting (Financial PR)

Ed Berry, Shiv Talwar

Telephone: [phone]

[e-mail]

About Argentex Group PLC

Argentex is a UK-based foreign exchange service provider founded in 2011 by its current senior management and Pacific Investments. It operates as a Riskless Principal broker for non-speculative spot and forward foreign exchange and structured financial derivative contracts.

The Group delivers tailored foreign exchange advisory and execution services to a global client base consisting principally of institutions, corporates and high net worth private individuals. It provides a personal client-led service, improved pricing and a more efficient execution and settlement service than existing FX service providers, such as banks and larger broker-dealers.

The business assists customers with foreign exchange transactions which are related to genuine underlying business needs. It does not engage in speculative trades for its clients, nor does it offer margin trading, spread betting, CFDs or similar products and it does not speculate with its own funds as principal.

Since the business commenced trading in 2012, it has experienced significant year-on-year growth in customers, transaction volumes and revenue. Argentex has been profitable in every financial year since incorporation.  For the year ended 31 March 2019, Argentex reported revenues of £21.9 million and operating profit of £9.4 million.

Argentex has a rigorous risk management culture and robust compliance procedures. It is authorised and regulated by the FCA as an Electronic Money Institution and is an IFPRU €125k Investment Firm. Argentex only trades with Institutional Counterparties with robust balance sheets, high credit ratings and sound capital resources and performs rigorous KYC and AML checks prior to accepting new clients.

 

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