Hong Kong headquartered Vistra, a provider of business solutions that helps organisations to invest and grow, replaces current chief financial officer Hilton Hess who is stepping down.

Vistra has appointed Andrew Cherry (pictured) as group chief financial officer (CFO) designate, starting on 21 August. 

Initially based in Luxembourg before moving to Singapore, Cherry will lead the group’s finance function and be responsible for driving the performance of the business to achieve its long-term objectives, the firm said in a statement.

Cherry’s career began at Price Waterhouse in the UK, followed by experience in many sectors across PE-backed, private and listed businesses including BAT, Cable & Wireless, Gemini Consulting, Volex plc and Salamanca Group. He has worked internationally in the UK, Europe, the US, the Caribbean and Asia. Most recently, he was CFO at Alter Domus for five years where he was added to value creation and the sale of the business to Cinven.

Cherry will be succeeding Hilton Hess who has served as the firm’s CFO since 2020. He has helped shape Vistra over the past few years, making improvements across both finance and the wider organisation, the firm added. 

“Following the 2023 merger between Vistra and Tricor, our focus this year has been on the successful integration of the two businesses,” group CEO Simon Webster said.

“He has led numerous acquisitions, refinancing events, and most recently his steerage through the recent merger has been outstanding,” Webster continued. “Hilton’s plan was to step down once the subsequent integration of the expanded group had been completed, and he will be leaving the business on 3 October.” 

“The recent merger has provided the company with the capabilities it needs to fulfil its ambitious plans and I am looking forward to playing a leading role in taking the business to the next level,” Cherry said.

“With a CFO career spanning 25 years, Andrew’s deep expertise in high growth situations, technology, and organisational transformation make him an ideal fit for Vistra’s development journey,” Nicholas Macksey, partner within the EQT Private Capital Asia Advisory team at Vistra’s owner, EQT, added.