BANXA Holdings Inc (TSX-V:BNXA, OTCQX:BNXAF) has announced a number of changes to its board and management team, including the appointment of a new chief financial officer (CFO).
The company, an infrastructure provider for enabling embedded crypto, said non-executive director Doron Cohen will step down from his position immediately. It noted that Cohen played a crucial role as the founding director of the TSX-V shell that facilitated Banxa’s reverse listing onto the exchange.
Joining the board with immediate effect as an executive director is Zafer Qureshi, a large shareholder in the company who also joins the executive team as head of corporate affairs, Banxa said.
Additionally, it said Patrick Maguire will join as CFO in October 2023.
"Management and I are excited with the addition of Zafer and Patrick to our team,” commented Banxa CEO Holger Arians.
“We are full steam ahead with the strengthening of our team to embrace the embedded crypto future that we've been diligently building since our mid-year update and look forward to updating shareholders further in the coming days."
Expanding on the new hires, Banxa noted that Qureshi has more than 10 years of experience as an investor and is the founder of the Qureshi Family Office (Alam Group of Companies Inc). He previously worked at the Royal Bank of Canada (TSX:RY) (RBC) where he specialized in mergers and acquisitions (M&A), investment banking and enterprise strategy.
Maguire is an experienced CFO with a global career in public and private businesses leading all aspects of the finance function as well as strategy development, capital raising, M&A and risk management to deliver business growth. He previously held executive positions with technology businesses including The Yield Technology Solutions, QSR International, Digicel Pacific and Euronet Worldwide Inc.
“I want to express my gratitude to Doron for his invaluable contributions to our journey thus far," Banxa chairman Domenic Carosa added.
"We're also thrilled to welcome Zafer and Patrick, who bring a wealth of experience to our team.”
Banxa also announced that its full-year results to June 30, 2023 are on track and will be reported before the end of October in line with reporting requirements,
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