Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global concierge platform for the world’s wealthy and mass affluent, is pleased to announce it has won a multi-year contract with a new corporate client that is one of the world’s largest private banks and wealth managers.
In the spring of 2022, Ten plans to launch its digitally-enabled concierge service to a select group of the new client’s private banking customers in the Americas.
This is expected to be a Medium1 contract with the potential to grow if the success of this initial launch leads to the expansion of the service to other geographies and private banking customer groups.
This new contract is incorporated within the Group’s existing growth plan.
Alex Cheatle, CEO of Ten Lifestyle Group, said:
“I am delighted that we have won a significant contract with a new corporate client that is one of the world’s largest and most prestigious private banks and we will soon be launching our digitally-enabled concierge service to their highly valued customers in the Americas. We hope the success of this programme may lead to the further expansion of the service and the growth of a strong and long-lasting partnership with this new corporate client.
This is a significant development for Ten in the Americas, further strengthening our scale in the region, and the Group’s business within the private banking and wealth management sector globally.”
1 Ten categorises its corporate client contracts based on the annualised value paid, or expected to be paid, by the corporate client for the provision of concierge and related services by Ten as: Small contracts (below £0.25m); Medium contracts (between £0.25m and £2m); Large contracts (between £2m and £5m); and Extra Large contracts (over £5m). This does not include the revenue generated from suppliers through the provision of concierge services.