Currency Exchange International has named its new chief financial officer.

Peter Scherer has been appointed senior vice president and CFO. He previously held the same position at AGF Trust Company, and prior to that held a number of senior financial positions at AGF Management Limited.

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Scherer holds the Chartered Accountant and Chartered Financial Analyst designation.

He’ll be succeeding Wade Bracy, who will assume the role of CFO of Currency Exchange International of America Corp, a subsidiary of the company.

“Bracy improved our efficiency by fully integrating our entire operations into our accounting platform,” says Randolph Pinna, president and CEO of Currency Exchange. “He also managed a smooth transition [during] our public listing on the TSX in 2012 and migration from GAAP to International Financial Reporting Standards (IFRS).”

The company has also released its financial results for the three and six months ended March 31, 2013 (all figures are in U.S. dollars except where otherwise indicated.)

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Find the complete and detailed financial statements on the company’s SEDAR profile.

Highlights include:

  • The company added 29 new clients since the beginning of January 2013
  • Its revenues decreased from $3.1 million in 2012 to $2.9 million during the same period this year
  • Its operating income decreased slightly to $435,000 in 2013 from $632,000 for the same three-month period in 2012