Bolero International has appointed Andrew Raymond as its new CEO. He replaces Ian Kerr, who has left the company.

Raymond (pictured) joined Bolero in August 2017 as global sales head. He has more than 20 years of global sales and client management experience with solution providers such as FIS, Algorithmics and Smartstream.

Bolero writes in a statement that Raymond has “successfully launched a number of new products for his previous employers in close collaboration with clients across diverse areas such as collateral management, corporate actions, reconciliations, credit scoring, derivatives middle office and risk reporting”.

In his new role, he is charged with “bringing to market new and innovative client solutions which leverage the Bolero capabilities and address the current and emerging market opportunities”, the company further notes.

Ian Kerr, meanwhile, leaves Bolero after five years. He joined Bolero in May 2014 from a role as COO at Creditcall, a payment service provider.

“Ian expanded the Bolero community and has successfully positioned the company to support the opportunity to finance transactions originated through the logistics industry,” Bolero says.

The company has not provided any information as to why is it changing its CEO, nor where Kerr will be moving next.

Commenting on the news, Dani Cotti, Bolero’s chairman, says: “It is thanks to Ian’s industry engagement that Bolero is well positioned to participate in the various new industry initiatives and business networks leveraging Bolero’s assets and deliver new solutions and clients access points with existing and new blockchain technologies. We are excited about the future potential of Bolero in the digital trade world. With Andrew Raymond as the CEO we have a proven leader in place to progress Bolero’s contribution to the trade finance ecosystem.”