A NEW chief financial officer has been appointed at York credit card insurer CPP after the last in post walked out amid losses of £1.9 million.

The Holgate-based firm has announced Michael Corcoran, who left last month after the group reported it was in the red, will be replaced by Oliver Laird.

Mr Laird, who has been appointed chief financial officer and director, is due to start on June 5, subject to regulatory approval.

A Fellow of the Institute of Management Accountants, Mr Laird has more than 10 years’ experience in senior finance roles in regulated financial services businesses, most recently as CFO of First Direct Bank.

He is also a Non-Executive Board Member of The British Council and a Non-Executive Trustee of the Leeds University Union.

CPP chairman Richard Lapthorne said: “On behalf of the Board I would like to welcome Oliver to CPP as we continue to build a sustainable future for the Group.

“Oliver has a wealth of experience in finance; I am delighted that he has agreed to join CPP and I look forward to his contribution.”

Chief executive Jason Walsh, added: “I very much look forward to working with Oliver as we progress with the development of a truly global business. Oliver joins at an exciting time for the Group as we lay the foundations to position our business for future growth, as demonstrated in our recent financial results.”