- Moneycorp set to add to its presence in the city by opening a new corporate office, led by former Deutsche Bank employee
- Office designed to help Midlands-based firms with both forex and global payments needs
- “We’re already recruiting and encourage people to get in touch if they are keen for a career in international payments”, says Managing Director
A leading cross-border payments company has announced that it will open up a new branch of its business in a secondary-level British city soon.
Moneycorp, which is a British firm founded in 1979, will open up its doors in Coventry, a city in the West Midlands region close to Birmingham.
The new location will deliver specialist assistance for firms in the local region, and will cover both online money transfer services to foreign countries as well as meeting their foreign exchange needs.
This is not the first Moneycorp presence in Coventry, however. The firm also operates a customer services centre in the city, which employs 40 people – and which will continue to operate.
The new office, though, will be a corporate office.
Anil Jassi will lead the new office. Jassi is a former employee of Deutsche Bank and is understood to have worked in finance for over a decade.
According to Lee McDarby, who is Moneycorp’s Corporate IP Managing Director, the move is “very exciting”.
"This is a very exciting development for moneycorp Coventry; we’re already recruiting and encourage people to get in touch if they are keen for a career in international payments”, he said.
The firm will move into a historic Coventry building, Tower Court. This building dates back to the early 20th century and was formerly an industrial site.
This is not the first time in recent months that Moneycorp has announced an expansion into a particular corner of Britain.
Back in May, for example, it said it would be opening an office in Edinburgh, the capital of Scotland.
“This is a very exciting development for moneycorp and its clients, as we bring our specialist expertise to the city of Edinburgh for businesses across Scotland”, McDarby said at the time.
This news from Moneycorp represents a clear path for the firm. By opening up offices in regional British cities, Moneycorp is clearly staking out a position as a leader in the “bricks and mortar” sub-niche of the corporate payments industry. It hinted at this in a statement released at the time of the expansion into the Edinburgh office, when it said that it would be looking to provide an “experienced, locally based new foreign exchange service”. In a world where so much cross-border payments activity goes on via screens and apps, it is, in many ways, refreshing to see a firm like Moneycorp decide to entrench its position as a physical provider.
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