Henry Sallitt, former finance director of struggling AIM software concern AFA Systems, has moved from industry to investment, taking up a post at tech specialist Quester Capital Management.

Henry Sallitt, former finance director of struggling AIM software concern AFA Systems, has moved from industry to investment, taking up a post at tech specialist Quester Capital Management.

AFA, which supplies software to major financial institutions was recently taken over by fully listed Microgen for £7.2 million. The group, which never made a profit, floated in 1996 and in 2000 was valued at over £100 million.

One of AFA’s original backers was Top Technology, for whom Sallitt worked before joining AFA full time when it floated. Top Technology is now part of AIM-quoted university spin-out group IP2IPO and is seeking £20 million for its Univen VCT. Sallitt, who was also chief operating officer at AFA, will become a director of Quester, focusing on IT and communications investments for the group.

Separately, Quester, which has recently launched a £10 million top-up offer for its fifth VCT, has revealed plans to merge its first three trusts.