TRADING TECHNOLOGY PROVIDER Fidessa has recruited a new CFO to replace the departing Andy Malpass.
Andy Skelton, currently deputy CFO of semiconductor business CSR, will take over from Malpass on 26 October. Malpass will remain at Fidessa until February 2016 to ensure a smooth handover.
Skelton has served at CSR since 2011, with the business recently taken off the public markets after its acquisition by Qualcomm Incorporated. An accountant since 1994, he previously held senior finance role at Ericsson. Skelton will receive a basic salary of £300,000 at Fidessa.
John Hamer, chairman of Fidessa, said: “Andy is a very high calibre individual with strong finance and commercial skills alongside substantial experience in the technology sector. Andy will be an exceptional addition to our management team and is ideally suited to help lead Fidessa in the next phase of its development.”
Fidessa recently saw its share price dip after warning of headwinds in the year ahead, including consolidation among its customer base. Regulatory and structural changes in the financial markets were presenting opportunities and challenges, Fidessa’s chief executive Chris Aspinwall said in its interim results statement at the start of August.
Malpass joined Fidessa in 1995. The CIMA-qualified accountant is also audit committee chairman at Kainos Group.
On Malpass’ departure, Hamer added: “I would like to take this opportunity to thank Andy Malpass for his outstanding contribution to Fidessa over the past 20 years. Andy has helped to lead Fidessa through a period of exceptional growth and development and the board is very grateful to Andy for his many years of dedicated service, and we all wish him well for the future.”