A former employee of the Accountant General’s department in Bermuda has been appointed chief financial officer of a Toronto-based fintech company.

Steve Fray worked as a senior accounting manager in the department from 2008 until 2011.

He has joined Abaxx Technologies Inc, where he will replace interim CFO Wes Fulford who will resume a previous role as corporate finance adviser to Abaxx.

The company said Mr Fray has more than 20 years' experience building and leading finance teams in global companies with significant operating scale and complexity.

Most recently, he served as CFO at Goldmoney Inc, a precious metal financial service and technology company. In addition, Mr Fray spent four years at GuestLogix Inc as VP Finance, and he held numerous audit roles at KPMG.

Mr Fray has an MBA in Finance from the University of Manchester, and is a Certified Professional Accountant, and Certified General Accountant. He is a Fellow of the Association of Certified Chartered Accountants.

Abaxx said it is a development stage financial software company that has created proprietary technological infrastructure for both global commodity exchanges and the digital marketplace.

The company said its formative technology increases transaction velocity, data security, and facilitates improved risk management for the majority owned, Abaxx Singapore Pte. Ltd, a commodity futures exchange that is seeking final regulatory approvals as a Recognised Market Operator and Approved Clearing House with the Monetary Authority of Singapore.

Abaxx said it is also the owner of the LabMag and KeMag iron ore assets, resulting from the reverse take-over of New Millennium Iron Corp, and the creator and producer of the SmarterMarkets podcast.