Transaction Capital named a new group’s chief financial officer after completing the unbundling process of its hybrid used-car trader WeBuyCars, which made a debut on the Johannesburg Stock Exchange last week.

Mark Herskovits, who is an executive director of Transaction Capital and TransCapital Investments and the group’s chief investment officer, will assume the CFO role with effect from 1 June, according to a company’s stock filing.

Mark Herskovits

Sahil Samjowan

Herskovits will replace the outgoing Sahil Samjowan, who will also resign as an executive director of TransCapital Investments and Transaction Capital.

The management changes followed the JSE-listed Transaction Capital’s decision to consolidate CIO and CFO “into a unified executive position … to optimize executive leadership structures and streamline operations,” stated the board.

A CFA charter holder, Herskovits also remained the Transaction Capital’s CFO and head of debt capital markets during different tenures in his 6-year stint at the company, according to his LinkedIn profile.

“Herskovits has been an integral part of the group since 2007, holding various significant leadership roles, most notably chief financial officer from 2014 to 2016 and more recently overseeing SA Taxi’s debt restructuring process,” noted the board. “The board extends its gratitude to Samjowan for his dedication and leadership during this challenging period and wishes him continued success in his future endeavors.”

Samjowan joined Transaction Capital in June last year. Previously, he worked with Nutun as group financial director and then chief financial officer. He also served Standard Bank Group, Absa and PricewaterhouseCoopers.

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