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 contract with one of Japan’s largest wealth management businesses.
The new, multi-year contract will see Ten’s digitally-enabled concierge services being made available for the first time to the new corporate client’s high-net-worth wealth management customers during this financial year. The contract is expected initially to be Small1, with the potential to grow into a Medium contract during the next financial year.
This new contract is incorporated within the Group’s existing growth plan.
Alex Cheatle, CEO of Ten Lifestyle Group, said:
“I am delighted that one of Japan’s largest wealth managers is the latest major financial services business in the country to be offering Ten’s digitally-enabled concierge service to their most valued customers.
Since establishing an office over ten years ago, Ten has grown to scale in Japan, the home to the third largest population of millionaires2 and one of the Group’s key markets in the APAC region. This new contract will further strengthen Ten’s business in Japan, where we expect activity to increase as the country emerges from the pandemic.”
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.
2 Global Wealth Databook 2021, Credit Suisse. Retrieved June 24, 2021.