Along with founding the business in 2002, Somji will continue to serve on Zafin's board of directors, providing assistance to Charbel Safadi, the company's new CEO, who takes up the position effective immediately.

Safadi, who has been group president of Zafin for the past five months, is said to be "ideally positioned" to lead the firm into its "next phase of growth and success" since he has a "comprehensive understanding of Zafin's operations and culture."

Safadi rose through the ranks at IT behemoth IBM before joining Zafin, where he most recently served as senior partner and chief of business transformation services for IBM Canada. He also held the position of chief technology officer (CTO) at IBM iX, the business's design studio and consultant for digital experiences.

With its main office located in Vancouver, Zafin provides a pricing platform and software as a service (SaaS) designed to help banks and credit unions streamline and personalize their core modernization projects.

Zafin has had a busy 2024, with this CEO change coming right after the company was acquired in February by Nordic Capital, a Swedish private equity firm.