Neil Record, former Bank of England economist and Mars commodity and currency trader, founded his eponymous specialist currency management firm in 1983. In November 2007, he floated the business, valuing Record at £354m, retaining a 32 per cent stake.
Growth at the company has been healthy, with a 118 per cent curve over the past four years. “The first 20 years were very quiet,” Record told the FT. “But the business has really taken off in the past five years.” Record’s client list comprises more than 100 companies and individuals worldwide, from sovereign wealth funds to pension funds for the likes of Unilever, Sainsbury’s and Volkswagen.
Assets under management currently amounts to £55bn, up from £8bn five years ago. The firm is now the largest, in terms of assets, in the UK. Turnover at the Windsor-based firm stands at £35m, with profits of £19.7m and a juicy 56 per cent margin. In the six months to December last year, the company was already £26.2m in the black on revenues of £42.6m. www.recordcm.co.uk