Clive Kahn Appointed CEO of Alpha Group as Leadership Transition Takes Effect

Alpha Group has announced the appointment of Clive Kahn as the new Chief Executive Officer, effective January 1, 2025. This follows the company's planned leadership succession outlined in September 2024, marking the end of Morgan Tillbrook's tenure as CEO.

Tillbrook, who had led Alpha Group for more than 15 years, officially stepped down from his roles as CEO and Director on December 31, 2024. While no longer serving as the company's CEO, Tillbrook will continue to provide advisory services and maintain a 10% equity stake in Alpha Group for at least the next three years.

Kahn, who has been a prominent figure at Alpha Group, has served as Chairman since 2016. During his tenure, he played an instrumental role in the company's growth and oversaw its listing on the FTSE 250 in June 2024. Kahn's career includes leadership positions at several financial services firms, including as CEO of Travelex, where he managed the company's expansion and led its transformation into a global operation. He also oversaw the sale of takepayments to Global Payments in 2024.

With his deep knowledge of the company and industry, Kahn will now step into the CEO role, succeeding Tillbrook. He has indicated that he plans to increase his current stake in Alpha Group as he takes on his new responsibilities.

In line with the leadership change, Dame Jayne-Anne Gadhia, former CEO of Virgin Money, will take over as Chair of Alpha Group starting November 1, 2024, ensuring continuity in governance.

Alpha Group's financial performance remains strong. In the first half of 2024, the company reported a 16% increase in revenue, reaching £64 million, compared to £55 million in the same period in 2023. The company's corporate and institutional revenue also saw increases, with corporate revenue rising by 12% to £30 million and institutional revenue growing by 15% to £33 million. Cobase, one of Alpha Group's subsidiaries, reported an 80% rise in revenue to £1 million.

Alpha Group continues to maintain a solid liquidity position, with adjusted net cash at £180 million. Following a successful listing on the Premium Segment of the Main Market in May 2024, the company's inclusion in the FTSE 250 further solidified its financial standing. Additionally, two share buyback programs have been launched, totaling £40 million, with over £20 million already completed.

As the company navigates this transition, the focus will be on continuing its growth trajectory, with a particular emphasis on maintaining its market position and delivering on its strategic goals.