The Rochford Group, a large independent treasury advisory company based in Australia, has been acquired by moneycorp. The purchase is the company's second international acquisition of 2019, after the completion of a deal for Brazil's Novo Mundo in April.
Rochford, based in Sydney, also has a representative office in Hong Kong that will further extend moneycorp’s presence in Australia and Hong Kong, as well as adding a range of products for moneycorp’s customers.
Rochford’s treasury services offer bespoke solutions to clients, allowing them to manage the impact of treasury risks on cash, profitability and their balance sheets. Rochford's cloud-based treasury risk management platform offers proprietary global cash flow forecasting models and workflow procedures.
Established in 2010, Rochford Group holds a comprehensive Australian Financial Services Licence (AFSL), providing solutions clients across numerous industry sectors.
UK headquartered moneycorp, which handled over 5.9 million global transactions in 2018, trades more than £35.5bn of currency annually through its offices in the UK, US, Brazil, Hong Kong, Spain, France, Gibraltar, Romania, Australia, UAE and Ireland.
The international growth strategy of moneycorp has seen it acquire and integrate Commonwealth FX, the US based corporate international payments company acquired in January 2018, and establish a licensed payments business and office in the UAE. Earlier this year it secured entry into South America’s foreign exchange market, through the controlling acquisition of Novo Mundo, an São Paulo headquartered business.
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