Fieth joins the institute from Transacsys, a business created from his former company GiroVend, which was involved in developing internet marketplaces. He began his career with Price Waterhouse, joining GiroVend Cashless Systems in 1996.
Last April, the institute disclosed a deficit of some £600,000 for 2000 in its annual review and said at the time it was budgeting for ‘substantial’ losses for 2001.
It is hoping to increase membership fees at a special meeting on 11 June from £167 to £200 to help make up the shortfall.
Institute executive director of finance and operations Michael Izza said Fieth would play a ‘pivotal role’ at Moorgate Place.
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