Leading foreign exchange provider Travelex announced today that Philip Bowcock has been named CEO with immediate effect. After three years in charge, Richard Wazacz is leaving his position as CEO, and Philip will succeed him.
Philip most recently held the position of Executive Chair of NM Money Group, which ran several consumer-facing financial services companies, including Eurochange, one of the top high street and online foreign exchange dealers in the UK. He was the Chief Financial Officer and CEO of William Hill plc for five years, during which time he led a change that reshaped the company. Philip successfully steered Countrywide plc through its sale to Connells in March 2021 while serving as temporary CEO.
Philip has a track record of successfully running customer-focused, multi-site companies with a strong online presence. He is now the Chair of Victoria Plumbing Group plc. Prior to this, he worked in senior finance at Tesco Plc, Barratt Developments Plc, Luminar Plc, and Cineworld Group Plc.
Alexander Filshie, Chairman, Travelex said: “This announcement marks the next phase of our journey at Travelex, focused on adapting to our changing customer requirements and industry environment, further strengthening our foundations, and building for long-term success. I am confident Philip will drive our strategic priorities and build for long-term success across our retail and wholesale businesses. Philip brings a wealth of experience from consumer-focused and travel money organisations. He is well placed to lead the Travelex team in the developing and changing global travel money market.
He added: “On behalf of the Travelex Board and Executive Leadership Team, I would like to sincerely thank Richard for his contributions throughout the last three years and extend a warm welcome to Philip in his new role, we look forward to working with him.”
Philip Bowcock, Chief Executive, Travelex said: “I am delighted to join Travelex at this pivotal time in its journey. The business has shown remarkable resilience, having navigated the challenges of the pandemic and made significant progress in recovering and stabilising its operations over recent years. I look forward to building on its strong foundations to further strengthen the core business, enhance operational efficiency, and ensure sustainable growth.
“Travelex is well positioned to adapt to the changing forex landscape and meet the evolving needs of our customers. I look forward to working closely with the Board, Executive Leadership Team, and our talented colleagues across the globe to build on this momentum, enhance our capabilities, and continue delivering exceptional value to our customers.”
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