Fexco planning 15 new UK outlets and creation of 60 jobs

Expansion is Fexco’s second in Britain in the last 12 months

Irish foreign exchange and financial services specialist Fexco plans to create 60 jobs and open 15 new outlets in an expansion of its UK operation No 1 Currency.

The move will boost the Irish company’s presence in Britain to almost 300 retail outlets by the end of this year, 56 of which will be No 1 Currency high street stores and 240 of which will be with retail partners.

The expansion will be the second for Fexco in Britain in 12 months. In 2014 it opened 15 new stores and created 60 jobs, along with acquiring rival foreign currency provider Intercash.

Fexco said at the weekend that the latest announcement would cement its position as one of the leading foreign currency exchange providers in the UK.

Commenting on the announcement, Fexco's director of foreign exchange services Joe Redmond said: "Fexco's retail foreign currency operation, No 1 Currency, grew twofold in the UK last year, and looks set for further significant growth with the aim of serving one million customers by the end of 2015."

He added that since launching in Britain in 2012, Number 1 Currency has trebled its share of the market.

“The UK remains the most attractive market in the world for specialist FX companies like Fexco, even more so this year as the British economy recovers and the pound continues to strengthen,” said Mr Redmond.

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