XPS Pensions Group will be admitted to the FTSE 250, following the quarterly rebalancing of the London stock market indices.
The pensions consultancy has expanded significantly in recent years, announcing 20 per cent year-on-year growth in a trading statement earlier this year, which was ahead of forecasts.
The London Stock Exchange announced the changes to the FTSE 250 yesterday, alongside adjustiments to the main FTSE 100 index of the UK’s largest companies. These changes will be implemented on 21 June and take effect from 24 June.
XPS Pensions co-chief executive Paul Cuff described this as an “amazing milestone” for the company. He pointed out that when XPS Pensions Group first listed on the London Stock Exchange in 2017, it had annual revenue of around £50m and employed 400 people. It now has annual revenue of almost £200m and a year of more than 1,800.
He added: ”We have achieved this by expanding the services we provide to offer high quality solutions for all our clients’ needs, and we’ve done it by putting our values and employee-centric culture at the heart of everything we do. Put simply, we’ve managed to grow while remaining true to who we are, which I am really proud of.”
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