Corporate and institutional finance specialist Alpha Group has chosen Bristol as the location of its new sales office to drive further growth through providing its existing offering to smaller corporates.
The Bristol office was initially established in January 2022 to focus on UK companies with turnovers of £5m – £30m, compared to larger cap firms that Alpha has historically served. The group already caters to a wide range of clients, including medium sized corporates that deal with currency conversion, international commerce, and payrolls.
Explaining the rationale behind the move, the company said the UK SME market represents an attractive market opportunity that can be captured without distracting from its wider focus on larger corporates and institutions. As such, the Bristol office, which generated revenues of more than £2 million last year, has a substantial runway for growth.
“By providing these clients with Alpha’s distinctive approach to FX risk management and access to established capabilities, the Group can provide them with a much-needed level of service and enter this market with a significant competitive advantage. Although clients will be smaller, our focus will remain on servicing high-quality companies, thereby providing a valuable opportunity to partner with high-growth companies and secure a significant share of wallet at an early stage,” the statement reads.
The new office space will generate a number of jobs for local talent within the B2B sector, as Alpha Group looks to maintain attractive profit margins. An office in Bristol made this possible as the town provides affordable cost of living and commercial rents are significantly lower.
The move is also a signal of confidence in Bristol as an important regional commercial centre with a thriving professional services talent pool.
“Achieving this meant that we needed to avoid becoming an incubator for front office employees wishing to eventually work with larger businesses – something that would have naturally occurred if the SME division was based within or near the London office. Having a separate office in Bristol, where the cost of living is lower, but the quality of life is high, ensures that the financial and lifestyle dynamics available to the team are equally as attractive as they are in our other offices,” the company further explains.
The news comes shortly after the company secured the approval to change the company’s name from Alpha FX Group PLC (LON:AFX) to Alpha Group International plc and its TIDM ticker to “ALPH”.
Alpha also launched a refresh of its website to offer improved usability and a new design. Apart from the modern look, the revamped website also provides interesting features aimed at further improving the trading experience for its clients, while ensuring complete safety of all operations. Alpha website now provides visitors with seamless and a more personalized experience, with which users can now quickly get to where they needs, whilst demonstrating what differentiates the group within its markets.
