Bermuda-based Quanta Capital Holdings Ltd. said John S. Brittain, its chief financial officer, has left the company, a decision he made, and not one tied to the company's restatement of first quarter financial results.

Quanta announced the departure in a press statement last night. Spokeswoman Sabrena Tufts said Mr. Brittain's exit was not because of any unhappiness on Quanta's part, on his performance.

Quanta thanked Mr. Brittain for seeing the company through its "start up phase".

Jonathan J. R. Dodd, Quanta's principal accounting officer, becomes interim chief financial officer, effective immediately, while Quanta searches for a replacement.

Mr. Brittain joined the company in January 2004, four months after the company was founded.

Mr. Dodd has been with the company since its September 2003 start date. He has 15 years of finance and insurance industry experience. Previously he served for approximately three years as director and the head of finance and operations for Allianz Risk Transfer - North America. His prior experience includes management positions at Centre Solutions and KPMG.

In May, Quanta restated its first quarter earnings from $1.4 million to a $644,000 loss, a change attributed to a "calculation error". The restatement reduced earnings per share from two cents to a loss of one cent a share. Analysts had expected Quanta to record earnings around 23 cents a share in the first quarter.

Quanta, which trades on New York's Nasdaq, closed down nine cents to $6.56 yesterday. The announcement on Mr. Brittain's resignation was made after the market closed.