Connecting Excellence Group PLC AQSE:XCE is taking its next step in international expansion, with shares now trading on the OTCQB in the United States under the ticker (OTCUS:XCELF). The move builds on the company’s existing London listing and signals a clear ambition: broaden access to U.S. investors while scaling a dual-engine business model that blends executive recruitment with a long-term Bitcoin treasury strategy.
Speaking on The Watch List, CEO Scott Ellam outlined how the company generates revenue, its growth drivers, and why leadership believes the OTCQB listing is a pivotal milestone.
A Profitable Executive Search Core
At the heart of Connecting Excellence Group is its flagship operating subsidiary, Spencer Riley, an international executive recruitment firm that has operated profitably since 2014.
The firm specializes in placing senior-level professionals, from Vice Presidents and Directors to Partner-level executives, across key global markets, including:
- United States
- United Kingdom
- Europe
- Middle East
Clients include major business advisory firms, global logistics companies, AI and data intelligence businesses, and life sciences organizations.
Revenue is generated through executive placements, creating a cash-flowing operational foundation. Importantly, this revenue stream is described as uncorrelated to the company’s Bitcoin holdings, providing diversification within the overall strategy.
A Bitcoin Treasury Strategy
While recruitment drives core income, surplus cash and capital raised in public markets are directed toward building a Bitcoin treasury.
Connecting Excellence began accumulating Bitcoin in 2021 as a private company and has continued the strategy following its public listing. After raising £3.3 million in an oversubscribed IPO on the Aquis market in the UK, the company deployed capital into additional Bitcoin purchases and introduced “XCE Bitcoin Bonds.”
Management’s stated long-term objective is to increase Bitcoin per share over time, aligning treasury growth with shareholder value creation.
Growth Through Talent Acquisition
Connecting Excellence Group’s leadership views recruitment as both a revenue engine and a strategic advantage.
As a publicly listed company with a Bitcoin treasury, Connecting Excellence Group can offer performance-based share options to attract high-performing recruitment professionals from competitors. In executive search, revenue growth is directly linked to billing talent, making recruitment of recruiters a core growth lever.
This “talent acquisition strategy” is designed to compound operational revenue while the treasury strategy compounds digital asset holdings.
Why the OTCQB Listing Matters
More than 30% of Connecting Excellence Groups operational revenues are generated from the United States and broader North American markets. Listing on the OTCQB provides:
- Easier access for U.S. retail investors
- Exposure to U.S. institutional capital
- Potentially improved liquidity and trading volume
Management has indicated plans to engage directly with U.S. institutional investors to build awareness and drive active trading, rather than allowing the U.S. listing to function merely as a secondary quote.
Leadership Built for Capital Markets Execution
Connecting Excellence Groups has assembled a board with significant capital markets and digital asset experience:
- Sam Roberts – Credited as the first person in Britain to lead a pension fund allocation to Bitcoin.
- Richard Byworth – Founder of Switzerland’s largest Bitcoin-denominated hedge fund of the past decade, holding 5,000 Bitcoin; previously led convertible bonds, futures, and derivatives trading at Nomura.
- Vijay Selvam – Former Goldman Sachs Head of Governance and author of Principles of Bitcoin; currently affiliated with a NASDAQ-listed digital asset exchange.
- Angus Gladish (CFO) – Experienced in preparing companies for main market listings.
This combination reflects Connecting Excellence Group’s hybrid model: operational recruitment expertise paired with capital markets and digital asset sophistication.
Long-Term Conviction
CEO Scott Ellam emphasized that the strategy is rooted in long-term conviction. He began personally accumulating Bitcoin in 2021, including through market drawdowns, and has continued building holdings through multiple cycles.
That consistency, according to Ellam, helped attract experienced capital markets professionals who share a multi-decade outlook for balance sheet growth and eventual main market aspirations.
Looking Ahead
With an established recruitment business, a growing Bitcoin treasury, and expanded U.S. investor access via OTCQB, Connecting Excellence Group is positioning itself as a differentiated small-cap opportunity.
The company’s roadmap includes:
- Scaling executive recruitment revenues
- Increasing Bitcoin per share
- Growing liquidity and U.S. investor participation
- Preparing for potential future main market listings
As trading begins under ticker OTCQB:XCELF, U.S. investors will now have direct access to a company aiming to blend traditional executive search profitability with a long-term digital asset treasury strategy.
For more information, investors can visit the company’s website at https://xce.io/.