Capita Financial Software managing director Matt Humphrey has resigned and will be replaced by Adam Byford.
Byford, who takes over next month, joined Webline in 2005 and was appointed to the CFS senior management team in 2009.
Humphrey was appointed managing director of CFS in December 2007 when Capita launched its financial software division as a part of its financial services distribution arm.
He will leave CFS in July after a handover period. Capita says Humphrey is leaving to spend more time with his family and consider his future options.
CFS has also appointed Jonathan Phillips as enterprise sales manager and Sean Donaghey as sales manager.
Finance & Technology research and development director Ian McKenna says Capita’s management have not shown enough support for CFS and need to show a greater commitment to continue to appeal to the IFA market.
He says: “Adam Byford is a very capable individual but it is fair to say there is a view in the market that Capita has lost its way. It would be good to see the Capita management make some expressions of support for the CFS team.”
In January, CFS held consultation talks with staff about moving up to 15 roles from the company’s Coventry and Bishop’s Stortford offices to Fareham.
Mitchell Moneypenny managing director Nicola Mitch- ell says Humphrey’s depart- ure is a big loss to CFS. She says: “Matt is one of the most talented and innovative people in the financial technology industry, he has always shown great drive and enthusiasm and has come up with some of the most imaginative solutions to industry issues.”