In brief
StanChart to team up with Travelex
Standard Chartered bank has acquired a minority stake in Travelex, the London-based non-bank FX specialist.
Earlier this year, private equity group Apax Partners bought a major shareholding in the firm (FX Week, March 7). Standard Chartered will join this consortium, acquiring 6% of the business. The bank will be represented on the board of the ultimate holding company.
The companies are planning joint provision of FX services and the provision of the bank’s
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