Latest news with #UniversalPartners
Times
3 days ago
- Business
- Times
I set up my FX firm in a Southend flat. Now we trade £1.6bn a year
Salvation for Southend-on-Sea. After years of trying to shed its tired, 'kiss-me-quick' image, the Essex coastal city has an unlikely new claim to fame: the birthplace of one of the UK's fastest-growing financial services firms. Oliver Carson was just 23 when he launched foreign exchange brokerage Universal Partners from his heavily mortgaged seafront flat eight years ago. Universal handled almost £1.6 billion of trades in 2024 and the outfit is now thought to be the UK's largest independent foreign exchange brokerage. The firm has been so successful that Carson, now 31, has installed a hefty oriental gong in the middle of the trading floor. Anyone landing a trade worth more than £5 million can celebrate with a thwack that reverberates throughout the office. The roster of clients signed up by Carson and his business partner, Dhaval Patel, 34, range from global corporate clients such as Amathus Drinks to Premier League footballers and other high net-worth individuals. Former world light-heavyweight champion boxer Joshua Buatsi is one of several famous names on Universal's books, as is ex-Arsenal and Southampton player Nathan Teller, now at Bayer Leverkusen. Universal helps clients time their transactions from one currency to another at the most advantageous time, thus saving them sizeable sums of money. Buatsi effectively boosted his pay from a recent bout by about £22,000 simply by delaying the transfer to a time when the dollar had lost some value against the pound. Carson and his 90 staff also ensure their clients have access to banking services so they can pay and receive bills in other countries, priding themselves on round-the-clock customer service. This Essex-born Apprentice reject who crashed out of college without any qualifications is not atypical of many dynamic traders who thrive in the City. But Universal's story is not merely another rags-to-riches tale — it also demonstrates the opportunities made possible when industries become over-wedded to technology, failing to understand that many clients still want personal service rather than simply access to a website or an easy-to-use app. Carson prides his brokerage's ability to forge deep relationships with its clients, trying to understand their financial goals and 'pain points'. Is a corporate customer looking to open in a new market and, if so, do they need a bank account or other financial infrastructure to keep costs low in that new arena? Is speed of transaction critical, or can a client wait for when an exchange rate is at its most advantageous? Have customers 'hedged' or protected themselves from possible currency fluctuations in the future? 'Most [foreign exchange] brokers at banks don't really offer that kind of service any more — they're execution only,' said Carson, who is also grabbing business from other non-bank foreign exchange services. 'Too often customers are directed to an online platform and have to convert transactions themselves. If you want to have a conversation with someone, you need to call between 8am and 5pm. 'That just doesn't work for footballers who often want to talk to you between 7pm and 8pm. Our clients can talk to us whenever required — at any time during the week.' Advising finance directors and top sportsmen all sounds a long way from where Carson's entrepreneurial endeavours began — selling conkers on string for 'a pound a pop' at Southend's Greenways Primary School. By 12 he was selling sweets in the playground of his secondary school in Billericay. A year or so later, he set about importing laser pens, polo shirts and other gizmos, making up to £30 a day from his schoolmates. That hunger to earn partly stemmed from a disrupted home life. Carson's parents separated when he was a toddler. He would move several times, attending four different schools. His relationship with his mother became strained. He has seen her just once over the past 14 years, he said. Hustling for money became something of a haven and before long, friends and family suggested he should apply for Young Apprentice, Lord Sugar's spin-off from his reality show for wannabe tycoons. 'I really wanted it and I got down to the last 30,' Carson recalls. 'It didn't work out, so I decided to go to college, largely because there were 2,000 potential customers for my trading, compared with the 500 there had been at school. I'm not sure that's really why you're meant to go to college. Anyway, I bought a moped to take me and the products back and forth from college. I was making £200, £300 a day from selling clothes, sunglasses and other stuff.' Despite failing all his college exams, he landed a place on a one-year course run by the enterprise academy set up by Peter Jones, the Dragons' Den panellist. It was, Carson said, a 'brilliant course', giving him a grounding in everything from financial planning and leadership to market research and pitching. 'I was 18 when I finished,' he remembers. 'That's when I sat down and worked out backwards what I wanted to do. I knew I liked financial markets, I liked psychology and business development. At the same time I had seen how money could make your life better and I wanted to go out there and get it. I put that all together and realised I wanted to be a stockbroker.' He took a job at a small foreign exchange brokerage close to London's Tower Bridge. Although his base pay of £500 a month barely covered his rail fare to and from Southend, he learned fast and within four years he was leading a team of ten traders. This was where he met Patel, his business partner. The pair would set up on their own after working together for four and a half years. 'We might have started sooner but I really wanted my own place and I needed a job to get a mortgage,' Carson said. 'I bought my flat in Southend for £400,000 with a 10 per cent deposit and resigned from my job two weeks later. You could say I've got a certain attitude to risk.' Patel and Carson's start-up would be based at that flat on Southend's Grand Parade for its first year. These days, Universal's home is an office block overlooking Canary Wharf's South Dock in east London. • HSBC leases new Canary Wharf office after return-to-office desk shortage The office today teems with twentysomething portfolio managers, many of whom have joined through Universal's academy. This training scheme provides people as young as 17 with a job starting at about £25,000 a year, as well as up to ten hours of training each week. Universal's ambition is hardly well hidden. Spelt out in capital letters on one of the walls is the mantra: 'We're not here to take part. We're here to take over.' There's been a fair bit to celebrate over the past year. Offering asset finance and other business lending is helping boost revenues. Universal is also moving into new markets, with a European office set to open by the end of this year. So, what about fundraising or a float to help keep the foot on the gas? There are no plans for now but it is clearly on Carson's mind. Carson and Patel still own 50 per cent of the business each. 'Over the past year we've been investing in the business, making big hires at a senior level that should be able to take us to the next level. To be fair, it still feels like we're just getting started.' Someone really does want to take over.
The Independent
11-06-2025
- Business
- The Independent
Universal Partners co-founder on the 'interesting benefits' of partnering with the E2E Tech 100
Partnering with E2E for the Tech 100, allows Universal Partners to support and network with fast-growing entrepreneurs and disruptors, and learn about their growth trajectory and where the tech industry is headed. For Universal Partners, the future holds further AI integration, and acquiring different licenses outside the UK, allowing them to further service clients and provide them with different products. For more information and to see the full E2E Tech 100 2025 list click here.
The Independent
27-03-2025
- Business
- The Independent
Women show how they've powered their way to the top in business
There has been significant progress in British business when it comes to women holding senior positions. Initiatives like the 30% Club – a global campaign launched in the UK to increase the number of women on boards and holding senior roles – have had a real impact, with the proportion of board positions in the FTSE 350 held by women now standing at more than 40 per cent, up rapidly over the past decade. The launch of the E2Exchange, or E2E, Female Track 100 for 2025 was another mark of that progress. In association with The Independent, E2E, the leading business networking and mentoring organisation, has published the definitive index of the 100 fastest-growing female-led or founded private businesses in the UK. The list is based on their profits growth rates over the past three years. It's the first in a series of Track 100s to be produced this year. Others will cover different categories, including profitability, job creation, growth and exports. E2E has tens of thousands of members and rising. Their Track 100s are designed to showcase the best British companies that are excelling, exhibiting consistent dynamism and presenting disruptive business strategies to impact not just their own sector, but also on a nationwide – and in some cases, a global – scale. Shalini Khemka, founder of E2E, assembled a panel of female corporate stars to herald the unveiling: Alison Milam of Porta Romana, Anita Dougall from Sagacity Solutions, Brigitte or Brie Read of Snag Group, Charlotte Harrington at Belu Water and ITN's Rachel Corp. They were joined in discussion, before a large online audience, by two men, yours truly and Alex Shepherd from Universal Partners, the foreign currency payments provider that is partnering the Track 100s. First, Shalini said there was genuine cause for celebration but added, 'there is still a need for us.' The business community, media, politicians, they all require pushing and reminding; the foot should not be taken off the equality accelerator. Worryingly, the recent PwC Women in Work index shows that Britain has slumped to 18th among the largest OECD economic nations, its lowest position in a decade, for workplace parity. All agreed that women bring a different perspective from their male colleagues. Anita Dougall said in her experience they had more emotional intelligence and were better communicators and more able to get to the point quicker. Alison Milam concurred but added they also brought higher attention to detail and were able to think longer term and cover more bases. Things have improved. Alex Shepherd recalled how when he first joined the foreign exchange industry, it was heavily male dominated. No longer and certainly not at Universal Partners. Flexible working and increased childcare provision have undoubtedly helped. What was telling, though, was that while there was general nodding it was not entirely shared. In some sectors, like manufacturing and construction there is much to be done. Their jobs tend to be constant, five days a week, on the shop floor or on site. They struggle to offer the same leeway – not helped either by the fact their bosses tend to be male. What was clear as well, was the chasm between different parts of the country. In some areas, those collecting children from school each day are nearly all women – indicating there is little shared male/female childcare. Indeed, in parts of cities like London and certain industries, there is a danger in assuming everything is fine, when it plainly is not. There was talk, though, about the need to push ahead, to drive through the problems, and for individual woman to forge ahead. It was no use waiting for assistance, from an outside body, like the government or council, say, when none or only little was forthcoming. As Rachel Corp said: 'We are all facing the same challenges, we're all pushing through.' Charlotte Harrington said similar and stressed that while problems remain, women should also 'be proud of where we've got to.' Just as difficult, even more so, was the task of shouldering a brand with all the responsibility that brings in today's economic and political environment. As Brie Read stressed: 'This is a very tough time in which to be running a business.' That took us to the end. Clearly, there remains some distance to go, but women are breaking through – the panel and the E2E Female Track 100 supply conclusive proof of that.
The Independent
17-03-2025
- Business
- The Independent
E2E 100 Female: how Universal Partners are empowering entrepreneurs and driving global success
Founded in 2017 by Oliver Carson and Dhaval Patel, Universal Partners is on a mission to empower businesses to thrive globally, offering tailored financial solutions for companies navigating complex international markets. With a commitment to inclusion and diversity, Universal Partners has become a trusted partner for female entrepreneurs. Spotlight on Universal Partners' Visionary Leadership Universal Partners' Co-founders, Oliver Carson and Dhaval Patel, have led the company's success. Their combined expertise in finance, business strategy, and innovation has been instrumental in shaping the company's upward trajectory and fostering a culture of excellence. Both are deeply committed to supporting entrepreneurs and empowering them with the tools needed to navigate the challenges of international business. Oliver Carson, CEO and Co-Founder Oliver Carson is the driving force behind Universal Partners. As CEO and co-founder, he has built the company from its beginnings in his living room to becoming a global leader in financial services. His client-centric approach has been instrumental in establishing Universal Partners as a trusted partner for businesses worldwide. Oliver's focus on fostering a dynamic and inclusive workplace has earned Universal Partners industry-wide recognition, including being named in The Sunday Times Best Places to Work 2024. His belief in the power of a motivated and diverse team has been a key factor in the company's continued growth and success. Dhaval Patel, Chairman and Co-Founder Dhaval Patel, Chairman and Co-founder Dhaval Patel's leadership has played an equally critical role in the company's success. As chairman and co-founder, Dhaval has led Universal Partners with a focus on innovation and strategic growth. His personal journey as an entrepreneur and story of overcoming early challenges is both inspiring and a testament to his resilience and dedication. Dhaval's focus on empowering clients and driving sustainable growth has positioned Universal Partners as a leader in the financial services industry. His leadership has been acknowledged through various accolades, including being shortlisted for the 2023 Great British Entrepreneur Awards in the Scale-Up Entrepreneur of the Year category. Universal Partners: A Financial Powerhouse for Women Entrepreneurs Universal Partners recognises the unique challenges entrepreneurs face. Their commitment to diversity and inclusion is evident in their client-focused approach, offering the expertise and resources needed to overcome barriers. From its beginning, Universal Partners has supported female-led businesses, offering bespoke services that ensure entrepreneurs have access to the best financial tools available. Their deep understanding of the challenges women face allows them to provide solutions making a tangible difference. By supporting female entrepreneurs, Universal Partners plays a key role in supporting gender diversity in the business landscape. Tailored Financial Solutions Female entrepreneurs often face a lack of access to traditional funding pathways, which can hinder their ability to scale their businesses. Universal Partners steps in to bridge this gap, offering tailored financial solutions designed to meet their specific needs: • Flexible Funding Solutions: Providing investment opportunities that align with the goals and growth potential of high-growth businesses. These customised funding solutions ensure that women entrepreneurs have access to the capital they need to take their businesses to the next level. • Foreign Exchange Expertise: Expanding internationally can be a daunting task for many businesses, but Universal Partners' foreign exchange services make it easier for entrepreneurs to engage in cross-border trade. They enable businesses to expand globally without facing the high fees and challenges associated with traditional banking channels. • Strategic Financial Advisory: Beyond just offering financial products, Universal Partners provides expert guidance and advice to entrepreneurs. Their strategic advisory services help business leaders make informed decisions about investments, operations, and international growth, ensuring that their business is poised for long-term success. Driving Economic Growth Through Women-Led Businesses As global economies continue to evolve, female-led businesses have been key drivers of innovation and economic growth. Universal Partners is dedicated to supporting this by providing the financial tools, advisory services, and cross-border expertise that entrepreneurs need to succeed. Their mission is to foster an inclusive business ecosystem where women entrepreneurs are empowered, both locally and internationally. The company's unwavering commitment to inclusion is further demonstrated by its focus on creating opportunities for female-led businesses to thrive. Universal Partners works closely with clients to identify growth opportunities, optimise cash flow, and provide the resources necessary to scale their operations globally. Universal Partners: A Partner in the Future of Women Entrepreneurs Universal Partners has established itself as a financial powerhouse. By offering innovative financial services, expert advisory support, and a deep understanding of the challenges faced by female-led businesses, Universal Partners continues to celebrate gender equality in the business world. Whether through strategic funding, global opportunities, or personalised financial guidance, Universal Partners is committed to helping businesses thrive on the world stage.
