CAB Payments Holdings PLC on Friday said Neeraj Kapur will take over as chief executive officer following Bhairav Trivedi’s resignation after three years in the role.

The Surrey, England-based cross-border payments and foreign exchange firm said Kapur will join the company immediately, but his role as CEO will officially begin on March 26, when CAB’s full-year results are published.

Reasons for Bhairav’s resignation were not disclosed, but the company expressed ‘sincere gratitude to Bhairav for the leadership he has provided.’

Bhairav will remain as senior advisor to the board.

Neeraj has more than 20 years of experience in senior operational and finance leadership roles in retail, corporate and SME banking. He was most recently chief financial officer of Vanquis Banking Group PLC.

Chair Ann Cairns said: ‘On behalf of the board, I would like to thank Bhairav for his commitment and contribution, which has positioned the company as a leader in its field. Under his leadership the Company more than doubled its revenue. I am delighted Bhairav has agreed to continue to represent, advise and support CAB Payments going forward.’

CAB added that it continues to expect total income for 2023 to be approximately 25% above £109.4 million the year before.

Shares in CAB were up 0.4% at 102.40 pence each in London on Friday morning.

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