CAB Payments, a provider of cross-border payments and business-to-business currency, today announces that Bhairav Trivedi, Chief Executive Officer (CEO), will succeed Neeraj Kapur, following the release of its FY23 Financial Results on 26 March 2024, subject to regulatory approval.
Neeraj Kapur will join CAB Payments with immediate effect.
Bhairav Trivedi will support the smooth transition of responsibilities to Neeraj and has agreed to take on a new role at CAB Payments as Senior Advisor to the Board. In this role, he will lead the firm’s push globally to build increasingly strong relationships with central banks, regulators, current and prospective strategic clients and other senior industry participants.
Neeraj has more than 20 years of experience in senior operational and finance leadership roles in retail, corporate and SME banking. He was most recently Group Chief Financial Officer of Vanquis Banking Group plc (formerly Provident Financial plc) where he helped guide the company through a period of significant industry and business change. Neeraj is a certified Chartered Banker and Chartered Accountant, with Arthur Andersen 30 years ago.
Ann Cairns, Chair of the Board, said:
“On behalf of the Board of Directors, I would like to thank Bhairav for his commitment and contribution, which has positioned the Company as a leader in its field. Under his leadership the Company more than doubled its revenue. I am delighted that Bhairav has agreed to continue to represent, advise and support CAB Payments in the future.
The Board warmly welcomes Neeraj to CAB Payments as our incoming CEO. He is a seasoned financial professional and proven leader who brings a wealth of experience to this role. We are confident that CAB Payments will continue to flourish and grow under his leadership as it executes our strategy to deliver long-term value for all of our shareholders.”
Bhairav Trivedi, CEO, commented:
“It has been an honor to lead CAB Payments over the past few years and I am extremely proud of what we have achieved. The Company has expanded and deepened its customer base and presence globally and has set clear priorities to expand our foreign exchange and payment capabilities, further diversify our customer base and expand the number of markets we serve. I look forward to helping Neeraj accelerate CAB payments and continue to leverage my experience, skills and network to further benefit the Company in this extremely exciting and growing sector.”
CAB Payments continues to expect total revenue for 2023 to be approximately 25% higher than the previous year. The Company will provide additional details on performance in 2023 in its next scheduled update on March 26, 2024.