Bolero International has appointed Daniel Cotti as its new chairman, effective from February 1.

Cotti, who joined the board of Bolero as a non-executive director last September, will replace Nicholas Barber, who will move from his current role to become deputy chairman.

Cotti left his banking career in 2014, after over 30 years working in the trade finance departments of the likes of Citi, ABN Amro, RBS and JP Morgan. He then founded Cotti Trade & Treasury (CTT), a boutique consulting company. He is also actively involved with industry associations including the ICC Banking Commission, Swift and The Bankers Association for Finance and Trade (BAFT).

In his new role, he will continue to work closely with Bolero CEO Ian Kerr and the rest of the team to deliver the company’s growth plans.

Barber joined Bolero International in 1999 and was its first independent chairman.

Nick Habgood of Azini Capital says: “Since joining the board in September Dani’s insight and input have been extremely useful and, with a number of new products due to come to market in 2016, he is exactly the right person to support Ian and the Bolero team in the coming, exciting and ambitious phase of growth.

“The shareholders are also enormously grateful to Nicholas (Barber) for his long-term leadership and guidance of the business.”