Najib Nathoo, the regional director for west Europe at debt purchaser Hoist Finance, is leaving the business.
Nathoo has worked for the company since 2012 and been a member of Hoist Finance’s executive management team since 2015.
Announcing the move today (August 23) Jörgen Olsson, chief executive of Hoist Finance, said: "Najib has played an important role in the evolution of Hoist Finance over the years, from the successful establishment in the UK and Spain to the turnaround of our French operations.
“I am grateful for the contribution Najib has made to the company during all these years and I would like to wish him the best of luck when he leaves the company to take on new challenges."
This announcement comes shortly after the news that Olsson himself announced plans to step down. In the company’s second quarterly results statement published in July, he said: “After much consideration, I decided that this is the right time to find a successor to continue driving our growth journey.
“I look forward to welcoming my successor... My aim is to support our strive towards our vision and our long-term development as a board member and as one of the major shareholders.”
The same statement mentioned that region west accounted for the company’s largest portfolio investments for the second quarter.
It said: “This demonstrates the size of the British market and the strong position we have built since 2012. Also in terms of profit for the quarter, the region’s profitability continues to improve.”
Hoist said the recruitment process to find a successor for Nathoo starts immediately.
During this process, Ulf Eggefors, Hoist’s head of chief executive office, will assume the role as acting regional director of west Europe and at the same time become a permanent member of the executive management team.
Eggefors has previously held positions including global head of trade finance services at Swedbank and chief financial officer at DNA testing service Cell Mark.