Kneip announced on Wednesday that it has appointed Nick Yeates as its new chief financial officer. The move follows on the heels of the appointment of Enrique Sacau as Kneip’s new CEO in July.

Prior to joining Kneip, Yeates was Group CFO at Akinova, a ground-breaking electronic marketplace for insurance risk. He has previous experience as finance director for Xchanging's Xuber insurance software division and has held senior positions in other large corporations, including Accenture and BT.  

“The Kneip name has been well respected across the industry for many years, and as it looks to increase its offerings and accelerate growth, this is a brilliant opportunity for a CFO to create significant value,” Yeates said via a company statement. He will be based in Kneip’s London office but will spend much of his time in its Luxembourg headquarters.

Yeates replaces Ken Sommer, who has chosen to go into semi-retirement but will continue to have an active role in the company by remaining engaged as an adviser. Kneip CEO Enrique Sacau said that Sommer had become a trusted colleague. “So I’m pleased that he will continue to play a role at Kneip, whilst getting to enjoy more time with his family.” 

Sacau was also delighted with the appointment of Yeates. “He brings a wealth of commercial experience in the financial services sector, which will be key to Kneip and the plans we are putting in place for 2021 and beyond. Our key priority is growth and of course finance will play a fundamental role in that.”