Travelex, the world’s foreign exchange and business payments specialist, today announces the appointment of Phil Hodkinson as a Non Executive Director and Chairman of its Audit Committee.

Until recently Phil Hodkinson, aged 49, was Group Finance Director of HBOS plc and Chairman of Insight Investment, having previously worked as CEO of Zurich Financial Services UK Life and as a consulting actuary. He is also a Non Executive Director of BT Group plc, where he chairs the Audit Committee, a Trustee of Christian Aid and an adviser to HM Revenue & Customs.

Lloyd Dorfman, Chairman, said: “We are delighted to welcome Phil Hodkinson to Travelex and the Group Board. The wealth of experience and business knowledge that Phil brings with him will be invaluable and we all look forward to working with him.”

Phil Hodkinson said: “I have watched the growth of Travelex with a keen interest over the last decade. Travelex is a world-class brand and I am pleased to be joining at such an exciting time in the company’s development.”

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About Travelex

Global Business Payments
Travelex is the world’s largest non-bank provider of international payments, with trading floors on four continents, operations in 30 countries and relationships with over 4,000 financial institutions. More than 30,000 businesses trust Travelex to make their foreign exchange transactions and reduce the risks of trading overseas. Travelex handles the international payments to over 1million beneficiaries annually.

Outsourcing
As one of the world's leading providers of outsourced travel money to banks, travel agencies and other retailers it provides products including its prepaid currency card Cash Passport to over three million channel customers annually. Through its world-leading automation Travelex offers consumers a full range of delivery channel options including telephone and web-based ordering.

Retail
Travelex is the world’s largest retail foreign exchange specialist, with over 700 retail branches. The business principally operates bureaux de change in airports and tourist locations. The business sells banknotes and other foreign exchange and travel related products by providing services to individuals travelling for business and leisure purposes.