A listed web design firm building a Bitcoin treasury has appointed a former executive of a FTSE 250 constituent as its new CFO.
Albert Soleiman has joined former unicorn The Smarter Web Company with immediate effect after leaving his post as CFO of CMC Markets in July.
During his 20 months at the firm, he played a key role in driving its diversification strategy notably leading the build out of its investment platform and leading a strategic realignment of the business.
Prior to this, he held a senior finance position at Bitfury Group, a global leader in blockchain technology solutions and Bitcoin mining.
Existing CFO Mario Visconti will step down as an executive director of the board and move to a newly created role within the company to help support it on its ongoing and future strategic projects.
Founded in 2009, the Guildford-based agency offers website design and development alongside marketing services for ‘affordable’ prices.
It hit the headlines after floating on Aquis in April of this year with a valuation of £3.7m before quickly becoming the highest-valued stock on that exchange by some distance – and even broke a £1bn market cap at one point, briefly giving it unicorn status.
Led by former Hargreaves Lansdown head of digital and Bitcoin expert Andrew Webley, the business spent almost £20m acquiring more BTC at the end of July.
“Albert’s extensive experience with public markets will be valuable as we continue to execute our growth strategy and deliver value to shareholders,” said Webley.
“His recent experience as CFO for a successful FTSE 250, market leading financial services firm, will be extremely valuable as we make progress on executing our strategy.”
Soleiman added: “I am very excited and honoured to be joining such an innovative company that is on an impressive growth trajectory.
“I am looking forward to helping Andrew and the team build on the incredible achievements they have made to date and help SWC set the standard in BTC treasury.”
The company, whose market cap has now dropped to £323.47m, will now look to embark on an acquisition strategy.