Manila – International foreign exchange specialist Travelex will take over 40 per cent equity of Thomas Cook Philippines, a subsidiary of the MetroBank group Philippines. First Metro Investment Corporation, a wholly-owned subsidiary of MetroBank, will own 60 per cent of Thomas Cook Philippines.

Thomas Cook Philippines will be renamed First Metro Travelex. One of the largest corporate travel agencies in the country, it has six branches in Metro Manila and Cebu and caters mainly to large multinationals and local corporations.

Travelex-Asia managing director and First Metro Travelex vice-chairman, Mr Andrew Tse, said: “Travelex is very committed to building on the Thomas Cook heritage in the travel industry to grow and expand our travel network in the years to come.”