Bibby Financial Services announced that Simon Featherstone is stepping down as Global chief executive effective August 5, 2015 to pursue other career opportunities. Featherstone has been in the position for four years.

David Postings, Bibby’s UK chief executive, will take-over as Global CEO on an interim basis until a replacement is named. Postings will continue in his role as UK CEO.

Bibby’s managing director Michael Bibby said, “Simon’s drive has enabled BFS to invest in new technology, new markets, and to consolidate its position at the forefront of asset based finance in the UK and many overseas territories.”

Featherstone said, “I feel that now is a great time to move on to my next challenge. I have enjoyed every minute at BFS and the opportunity to lead a fantastic business with a great team and bright future has been a career highlight to date.”