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TruFin CFO, COO to step down amid restructuring

TruFin PLC CFO Raxita Kapashi and COO Jason Rogers will leave the company July 31 amid a restructuring aimed at reducing costs.

James Hussey, CFO of TruFin unit Satago, will take over as CFO of the company in addition to his current role at Satago.

The U.K.-based company aims to reduce head office costs by approximately 35% on an annualized basis.

TruFin said Peter Whiting will also step down as independent nonexecutive director, with effect from July 31.

Additionally, the financial services company said unit TruFin Holdings Ltd. now owns a 51% stake in Vertus Capital Ltd. following the conversion of a £3.65 million convertible loan into ordinary shares and the payment of an additional £355,000.