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CAB Payments, a provider of business-to-business cross-border payments and foreign exchange, today announces that Bhairav Trivedi, Chief Executive Officer (CEO), will be succeeded by Neeraj Kapur, following publication of the FY23 Financial Results on 26 March 2024 and subject to regulatory approval.

Neeraj Kapur will join CAB Payments immediately.

Bhairav Trivedi will support a smooth transition of responsibilities to Neeraj and has agreed to then take on a new role within CAB Payments as Senior Adviser to the Board. In this role, he will lead the company’s push globally to build increasingly strong relationships with central banks, regulators, current and prospective strategic customers, 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 qualified Chartered Banker and Chartered Accountant, qualifying with Arthur Andersen 30 years ago.

Ann Cairns, Chair of the Board, said:

“On behalf of the Board, 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 Bhairav has agreed to continue to represent, advise and support CAB Payments going forward.

The Board very much welcomes Neeraj to CAB Payments as our incoming CEO. He is a seasoned finance professional and proven leader who brings a wealth of experience to this role. We are confident CAB Payments will continue to flourish and grow under his leadership, as he executes our strategy to deliver long term value for all our stakeholders.”

Bhairav Trivedi, CEO, commented:

“It has been an honour to lead CAB Payments over the last 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 set out clear priorities to extend our FX and payments capabilities, further diversify our customer base and expand the number of markets we serve. I look forward to helping Neeraj get up to speed on CAB Payments, and continuing to leverage my experience, skills and network to further benefit the Company in this highly exciting and growing sector.”

CAB Payments continues to expect total income for 2023 to be approximately 25% above the prior year. The Company will provide additional detail on performance in 2023 at its next scheduled update on 26 March 2024.

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