Sponsor of ITV’s rugby world cup coverage last year, Travelex brands itself “the world’s foreign-exchange company”. It handles foreign exchange for 16,000 corporate customers and provides foreign-currency services for the retail customers of several British high-street banks, including Barclays and Royal Bank of Scotland. It also operates 650 bureaux de change in airports and cities worldwide. In March 2001, it completed the £440m acquisition of Thomas Cook’s financial-services division and last year acquired the Canadian customer base of Bank of America’s corporate foreign-exchange division, as well as MyTravel Financial Services. Its sales reached £466m in 2003.
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