Trade credit brokers Credit Risk Solutions and Credit and Business Finance,which were acquired by the Nexus Group in October 2017 and April 2019, respectively, will also be united under the new umbrella.
Nexus said the unified teams will “magnify their impact on the specialist trade credit and surety market, delivering both greater scope and focus to their clients”.
In addition, Xenia’s streamlined operations will “further enhance customer experience” through scale, reach and efficiency.
According to the group, Xenia’s strategic objective is to become the world’s leading trade credit and surety broker.
Tim Coles, CEO of Xenia, said: “Xenia’s formation is an exciting evolution for the credit insurance and surety markets.
“The businesses that together constitute the new Xenia possess exceptional talent and deep expertise that, together with our unmitigated focus on client service, enable us to raise the bar on delivery of exceptional solutions for our clients, no matter how complex the challenge.”
He added: “We are the true focused specialists in our sector and the unified business will be able to provide exceptional opportunities for our clients and to those that share our values and want to be part of our journey.
“We believe that our distinctive new brand and compelling proposition will stand out in the marketplace. They capture who we are as a business – focused, modern and dynamic with an entrepreneurial culture.”