The boss of AIM-listed financial services group finnCap is set to step down after more than 20 years in the role, the firm announced today.
Sam Smith, who founded the firm in 1998, will hand over the reins to current managing partner of finnCap Cavendish John Farrugia, who will become director of the company and CEO designate before Smith departs.
Chair of the firm Robert Lister said Smith would now shift into an advisory role as Farrugia takes over.
“I am very pleased to confirm that John Farrugia, currently the managing partner of finnCap Cavendish, is going to be appointed as CEO designate,” he said.
Lister confirmed that Geoff Nash, a founding shareholder of the firm will now join the board of the firm to ensure that “it has direct access to insight on the capital markets industry and will represent the capital markets team.”
Smith added that she was “delighted” to be able to begin the succession process and hand over to Farrugia.