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Gustavson’s EncoreFX: A Domestic Business Success Expands Internationally

Published May 2, 2017

VICTORIA, BC, May 1, 2017 /CNW/ – Peter Gustavson’s second foray into the business of foreign exchange, EncoreFX has doubled revenues for the second year in a row as the firm surpasses 1,000 corporate accounts.

Encore continues its bricks and mortar strategy adding a thirteenth regional office and expanding its reach in non-bank FX overseas and hiring more people to meet the growing demand for customized, local services. See daily updates from the currency market team at

Encore launched in early 2015 with operations in Victoria, Vancouver, Calgary, Edmonton, Saskatoon, Winnipeg, Toronto and Ottawa.

In the past few months the company has opened for business in Asia Pacific with teams in Sydney, Melbourne and Brisbane at and Auckland at

Paul Lennox, President, says Encore is very busy as increasing numbers of business owners turn to them for strategies to navigate the choppy waters of international trade.

“For two years we’ve been putting infrastructure in place, developing business processes and improving sales effectiveness,” said Lennox. “We’ve surpassed 100 employees, opened offices in 13 cities and added over 1,100 corporate accounts.”

Lennox says tailored FX risk management strategies improve competitiveness and the predictability of profits and cash flows.

“We work closely with clients to develop a specific plan unique to their needs,” said Peter Gustavson. “They really need reliable advice to manage import/export currency risk. With three decades of experience and a network of bank partners including Goldman Sachs and Citi Bank we provide deep liquidity and global services that protect profits from exchange rate fluctuations.”

“Banks in general are underserving SMEs with do-it-yourself transactional platforms,” says Gustavson. “So many unpredictable developments around the world today bring increased volatility in exchange rate movements. We see both threats and opportunities when it comes to foreign exchange.”

Following five years of non-competition, Encore is the offspring of Custom House Global Foreign Exchange, established by Gustavson in 1992 and sold to a competitor in 2009 for $US370 million.

For further information: Paul Lennox, President,, Tel: 250-412-1294; Media contact: Don at 416-434-3681,

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