Beeks Financial Cloud (Beeks), a low-latency service provider, made some changes to its executive team this Wednesday. Simon Goulding, the company’s Chief Financial Officer, has retired from his role and has been replaced by Fraser McDonald.

“We would like to thank Simon for his leadership of the finance team over the last few years,” said Beeks Financial Cloud Chairman Mark Cubitt in September. “And we are benefiting from the robust structures he has put in place.”

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The announced changes were formally announced last month via the London Stock Exchange (LSE) but took place on Wednesday.

“Fraser contributed greatly to the success of the company’s initial-public-offering last year,” said Cubitt. “We have been delighted with his contribution to the business since Beeks joined AIM.”

McDonald: helping Beeks Financial Cloud join the LSE’s AIM

Beeks was listed on the AIM – a sub-market of the LSE – in November of last year. Then the company was valued at £24.5 million ($31.68 million).

McDonald, who helped facilitate that process, has been with the low-latency service provider for almost three years. According to information available on the new CFO’s LinkedIn profile, he has been with the firm since 2016, working as a Project Consultant.

He replaces an experienced financial professional in the shape of the aforementioned Goulding. Starting out with KPMG in the mid-1980s, Goulding has more than twenty years of experience in the financial services industry.

Since leaving KPMG in 1996, he has worked for a number of firms, including Arthur Andersen – the consulting arm of which is now Accenture. He also spent five years as Chief Operating Officer with Campbell Dallas, an accountancy firm.

He joined Beeks in 2012 as CFO and held that position continuously until this Wednesday. Alongside his role with the low-latency service provider, he has worked as a Finance Director at Tissue Solutions – a medical company.