Sallitt joins Quester

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.

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio... More by Leslie Copeland