ChangeGroup

ChangeGroup is a UK-based retail foreign exchange and bureau de change company, headquartered in London. The company has 120 branches in airports, seaports and city centres globally, as well as an online currency exchange service. In 2014 it rolled out dynamic currency conversion (DCC) enabled and foreign currency dispensing ATMs.

ChangeGroup
Private
IndustryForeign Exchange
Founded1992
HeadquartersLondon, United Kingdom
Key people
Sacha Zackariya, CEO
Bette Zackariya, Group Director
Number of employees
600
Websitechangegroup.com/corp

History

The company was founded in 1992 by Mohammed Zackariya-Marikar. His son, Sacha Zackariya later took over as CEO.[1]

The venture capital group 3i Plc was a shareholder in the company for a time. [2]

In 2002, the company acquired the Estonian Monex network from Hansa Bank.

The Change Group International plc was started by Zackariya-Marikar with Bette Zackariya and Sacha Zackariya in 1992 from a single bureau in London Regent Street to create an international group across city branches, airports and offices in Europe, USA and Australia, employing 80 nationalities. Originally funded by private equity from 3i plc, their stake was bought out in 2005. Today The Change Group serves approximately 5 million customers annually. The Group concluded over 18 M&A transactions over the last 25 years and won many awards including the Queen's Award in 2006 for International Trade. The profit for the year, after taxation, amounted to £1,988,000 (2016: restated £1,347,000).[3]

Reviews

A report by the Sunday Times found that ChangeGroup offered the best online exchange rates on euros when it conducted research in July 2011.[4]

In 2002, the company's high street offering was criticised by two newspapers comparing currency exchange rates, the Sunday Mirror (who described them as "worst on the High Street"[5]) and the Los Angeles Times ("the worst deal of my London experiment"[6]).

References
  1. "2008 Top Track 250: The Change Group". Retrieved 2009-02-08.
  2. "Archived copy". Archived from the original on 2016-03-03. Retrieved 2013-10-14.CS1 maint: archived copy as title (link)
  3. Thornton, Grant (2018). "audited The Change Group International Plc, Annual Report Statements, Y/E 2017". Companies House.
  4. Charles, James (10 July 2011). "Save £600 before you go on holiday". Sunday Times.
  5. Wright, Melanie (8 August 2004). "EUROWINNER". Sunday Mirror. Retrieved 2009-02-08.
  6. Gilden, James (12 May 2002). "Weigh the Options for a Fair Deal on Foreign Money". Los Angeles Times. Archived from the original on 2011-01-30. Retrieved 2009-02-08.
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