Andersen James Group
- Company name: Andersen James Group
- Company size: 11 – 50 employees
- Industry: Recruitment
- Location(s): UK, USA, Europe and UAE
About
A fast-growing recruitment business with clients in the UK USA, Europe and UAE.
The challenge
Looking to establish a real international presence around the globe. Anderson James needed to ensure they could transact in multiple currencies, as well as making sure their operations were fully insured in these markets.
Our solution
Expanding your operations internationally doesn’t need to mean added complexity to managing your financial services.
We took a strategic approach to Anderson James’ FX needs and simplified their insurance programme.
FX
Anderson James first venture international was to expand operations in the USA. This meant they needed an FX partner that could support them with their long-term foreign currency exposure.
We worked with the company to put in place an international payment solution that meant they could receive payments locally in US Dollars and lock-in favourable rates converting this into a forecastable GBP value. This gave them the capability to future plan effectively at a time of rapid growth, by mitigating their risk of currency fluctuations.
Commercial insurance
Another area the company needed support with during their expansion was with their insurance programme and their requirements to be covered in America.
Their previous insurance broker had advised them that they needed a separate policy to cover that exposure in this market.
However, we were able to go to market and place an improved policy, at cheaper premiums, with a single insurer that that extended their cover to the USA – thereby saving the company additional cost and administrative burden.
Protection
Impressed by our approach to managing their insurance programme, we were asked to look at their business protection.
The company had two main shareholding directors but no shareholder protection, meaning the loss of one of the directors would leave the company at risk.
As we already had a deep understanding of the business and its directors, we were able to quickly source and place suitable shareholder protection that would support the business and prevent the company being left in a precarious financial position should the worst happen.
