Alpha Unaffected by SVB

RNS Number : 6641S

Alpha Group International PLC

13 March 2023

 

13 March 2023

Alpha Group International plc

("Alpha" or the "Group")

Alpha Unaffected by SVB

Following the recent announcements surrounding Silicon Valley Bank, the Group wishes to reassure all our stakeholders that our operations and any client held funds remain unaffected.

As a reminder, Alpha safeguards 100% of its client funds in segregated safeguarding accounts with Tier 1 counterparties consisting of Barclays Bank, Citibank, Goldman Sachs, and Lloyds Bank. In addition, unlike a bank, Alpha does not use client cash to issue loans, and therefore 100% of client held funds remain in cash at all times.

We remain mindful that there could potentially be knock-on effects to our clients and therefore continue to monitor this closely. Having undergone an initial review however, we do not currently have any areas of concern, and are looking forward to sharing our full year results on the 22^nd March.

Enquiries:

Alpha Group International plc	via Alma PR
Morgan Tillbrook, Founder and CEO
Tim Powell, CFO
Liberum Capital Limited  (Nominated Adviser and Sole Broker)	Tel: [phone]
Max Jones
Ben Cryer
Kate Bannatyne
Alma PR (Financial Public Relations)	Tel: [phone]
Josh Royston
Andy Bryant
Kieran Breheny

Notes to Editors

Alpha is a high-tech, high-touch provider of enhanced financial solutions dedicated to corporates and institutions operating internationally. Working with clients across 50+ countries, we blend intelligent human capabilities with new technologies to solve complex problems across three key areas: FX risk management, global accounts, and mass payments.

Key to our success is our team - nearly 300 people based across seven global offices, brought together by a high-performance culture and a partnership structure that empowers them to act as owners of our business.

Despite being an established business listed on the London Stock Exchange, we remain relentlessly focused on maintaining the same level of operational agility and client focus we had when we first started in 2009. This dynamic, combined with the passion of our people, have enabled us to make a substantial and enduring difference to our clients, and deliver a growth story to match.

 

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