Alpha FX Group taps Andy Mowat to head new Australia office

Foreign exchange service provider Alpha FX Group PLC (LON:AFX) has appointed Andy Mowat as managing director of its new Australia office.

The new hire comes in tandem with Alpha FX’s plans to launch its new Sydney branch later this year, which will focus on signing new partners in Australia and New Zealand.

In his newly created role, Mowat will oversee the expansion and bolstering of the company’s core products for clients across the Asia Pacific region. Additionally, his mandate will emphasize the growth of Alpha FX’s sales, including the currency management software.

To further solidify its presence in the region, the FCA-regulated firm recruited more staff to meet demand with the headcount rising over the year.

“We’re hugely excited for Andy, Alex, and Ryan to be spearheading this next stage in our company’s journey and are looking forward to what the team can bring to the Australian market,” the company said.

Mowat has over 15 years’ experience in financial services, including growing business in the Asian markets, which is an area of strategic importance for Alpha FX. He joins Alpha with an in-depth knowledge of the alternative investment sector alongside his traditional FX experience.

The AIM-listed company grew its client numbers

Prior to his new position, Andy spent most of his career at AFEX, a privately owned non-banking provider of global payments and risk management solutions. He was global head of trading for more than 14 years, having joined AFEX back in 2007.

Alpha’s alternative banking solution has been purpose built for the alternative investment sector over a number of years and provides clients with a dedicated team, technology and infrastructure to effectively service funds and their investment entities.

Speaking on his appointment, Andy said: “The quality of Alpha’s offering and client-focused culture is something that is very well known to me from working within the industry. It is a company I have admired for a long time, and I am delighted to have the opportunity to be able to work with the team to bring the Alpha brand down under!”

In 2017, Alpha FX obtained its regulatory license from the Financial Conduct Authority (FCA) in Britain. The authorisation came just three months after the firm began the live trading of its shares on the AIM market of the London Stock Exchange (LSE).

The UK-based FX service provider, which manages exchange rate risk for domestic corporates, is now operating as a BIPRU investment firm. The group caters to a wide range of clients, including medium sized corporates that deal with currency conversion, international commerce, and payrolls.