Foreign exchange specialists Global Reach Partners (GRP) has picked up a prestigious honour at the Department for International (DIT) Trade Business Awards.
The London-based company picked up the award in the New to Market category for their achievements in developing new business relationships in the Portuguese marketplace.
The awards, run by the Government department which supports and promotes UK trade and industry, celebrate successful British-Portugal bilateral business relations.
From 2013 GRP began working in Portugal, with support from the DIT’s Lisbon-based team, where they cultivated new business relationships and significantly grew their market share providing foreign exchange services to a range of corporate clients.
Not only has GRP’s growth in Portugal been financially rewarding but they have also built a high degree of goodwill amongst their client base which has benefitted from their expertise in hedging strategies and ongoing risk management, especially given the ongoing uncertainty in the market since Brexit.
Manuela Diniz, senior trade & investment adviser at the Department for International Trade in Lisbon said: “Global Reach Partners are worthy winners of the DIT Business Award for their success in entering a new market. The feedback we received from their Portuguese clients is very positive and it shows that they really value GRP’s expertise and professionalism.
“It’s been a pleasure for our team to help support GRP’s growth in Portugal and we are confident that this will be only the first of many occasions to celebrate in the coming years.”
Collecting the award for GRP was its corporate dealer, David Huggett, who has responsibility for the Portuguese market. He said: “We’re delighted to be given recognition for our success in further developing our business within Portugal. Following our company’s development in some regions of Spain, where we were well-supported by the DIT team, we turned our attentions to the Portuguese market a few years back.
“This award marks the success which GRP has had in developing our client base and other close business relationships since that time where we’ve made a really positive impact on this market.”
The DIT Business Awards is an annual event in its ninth year which rewards and recognises the entrepreneurial effort of Portuguese companies that have chosen the UK as an investment destination as well as UK companies and investors which have achieved success in the Portuguese market.