Cabot Credit Management (CCM) has appointed a new chief executive for its Spanish business Gesif.
Following the resignation of current chief executive Melania Sebastian, Jose Cadena will take over the role from September 12.
Cadena has more than 16 years of experience in the financial industry having directed debt recovery operations in the USA, India, Europe and Mexico.
He previously held the position of chief operating officer for investment company, Paratus AMC, a portfolio company of Fortress Investment Group.
Sebastian, who lead Gesif for the past 12 years, has resigned with hopes to explore other opportunities, but will continue to work with the firm in a consulting role.
Director and group chief executive of CCM, Ken Stannard, reiterated the strategic importance of Gesif and the Spanish market to CCM saying: “Since CCM’s acquisition of Gesif in Q3 2015 we have invested nearly €100m (£85m) in Spanish portfolios and see Gesif as strategically important in our future growth plans.