Record plc (REC) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.854 Before we get into the results for the first half of FY26, 00:00:03.854 -- 00:00:07.276 I'd like to review our strategic progress. 00:00:09.900 -- 00:00:14.544 Record is a specialist currency and asset manager focused on delivering best-in-class 00:00:14.544 -- 00:00:18.866 solutions for large institutional investors. 00:00:19.629 -- 00:00:24.873 We have over $110 billion in assets under management for clients based around the world, 00:00:24.873 -- 00:00:28.837 with a particular strength in Switzerland and the United States. 00:00:28.837 -- 00:00:31.581 and we employ over 100 people, 00:00:31.581 -- 00:00:37.170 primarily at our new head office in Paddington, but also in Hamburg, Frankfurt, Zurich, 00:00:37.170 -- 00:00:39.430 and New York. 00:00:40.014 -- 00:00:44.662 Over the last 40 years, we have established ourselves as the leading provider of currency 00:00:44.662 -- 00:00:49.389 derivative solutions to large institutional investors with a reputation for exceptional 00:00:49.389 -- 00:00:53.275 client focus and operational excellence. 00:00:53.275 -- 00:00:57.237 Those qualities remain at the core of our value proposition. 00:00:57.237 -- 00:01:02.664 And we're building on that robust foundation to expand our offering into new areas 00:01:02.664 -- 00:01:07.371 where we can add higher margin products and lock in long-term recurring revenues that 00:01:07.371 -- 00:01:11.774 will deliver sustained growth and increased value. 00:01:12.518 -- 00:01:17.244 The transition is well underway. And in the following slides, I'll cover some more detail 00:01:17.244 -- 00:01:22.769 about the progress we're making and how we intend to capture the full opportunity. 00:01:25.283 -- 00:01:30.930 Last year, we restructured the business into t...