Nexus unites its Trade Credit broking under single Xenia brand
PRESS RELEASE: London, UK, Monday 17th August 2020: The independent broking arm of the Nexus Group (“Nexus”), Xenia Broking Group (“Xenia”), is delighted to announce that it is formally uniting under one trading name and brand; Xenia.
Nexus acquired Credit Risk Solutions in October 2017 and Credit and Business Finance in April 2019. The unified teams will magnify their impact on the specialist trade credit and surety market delivering both greater scope and focus to their clients, and Xenia’s streamlined operations will further enhance customer experience through scale, reach and efficiency.
Xenia is a leading and among the largest specialist trade credit and surety brokers in the UK, with circa 20% market share of trade credit insurance distribution. The business will develop its specialist focus by maintaining its consistently strong organic growth (approximately 15% per annum) and by acquisition, with targeted combined growth of over 30% per annum. Xenia’s strategic objective is to become the world’s leading trade credit and surety broker.
Tim Coles, CEO of Xenia, said:
“Xenia’s formation is an exciting evolution for the credit insurance and surety markets. The businesses that together constitute the new Xenia possess exceptional talent and deep expertise that, together with our unmitigated focus on client service, enable us to raise the bar on delivery of exceptional solutions for our clients, no matter how complex the challenge.
We are the true focused specialists in our sector and the unified business will be able to provide exceptional opportunities for our clients and to those that share our values and want to be part of our journey.
We believe that our distinctive new brand and compelling proposition will stand out in the marketplace. They capture who we are as a business - focused, modern and dynamic with an entrepreneurial culture.
We have a hugely exciting future with much to achieve!”
Nexus launched Xenia Broking Group Limited in March 2019 when Tim Coles became CEO of Xenia alongside his role as Nexus Group COO.
Both CRS and CBF are subsidiaries of Xenia Broking Group Ltd, a Nexus Group company, and this legal structure will remain the same.