The board of directors of Transaction Capital Limited announced changes to the directorate of Transaction Capital, effective, January 16, 2014. Mr. Christopher Seabrooke will stand down as independent non- executive chairman to become lead independent non executive director and chairman of remuneration committee. Mr. Mark Lamberti will resign as chief executive officer to become non executive chairman of the board and chairman of newly constituted nominations committee. Mr. David Hurwitz will be  appointed chief executive officer.

For the past nine years he has served Transaction Capital and its predecessor companies as head of debt capital, chief financial officer of SA Taxi. Mr. mark Herskovits will be appointed to the board as chief financial officer and chairman of assets and liabilities committee, which will no longer be a sub-committee of the board. mark is a chartered financial analyst who has been with the group for seven years as deputy head of debt capital and thereafter head of capital markets.

Mr. David Woollam, an independent non-executive director who currently chairs the risk and compliance committee and the audit committee, will chair the merged audit and risk committee.