FSB appoints Adam Smith as permanent CEO

FSB has announced that Adam Smith will assume full-time charge of the organisation following a successful three-month interim period as CEO.

Smith, who took interim control in December 2022, has overseen FSB’s recent entry into the North American region via an enhanced relationship with long-term bookmaker partner Fitzdares in the regulated Canadian province of Ontario.

Smith was previously UK MD and group board member at Valcon, a Northern European technology and consultancy business focused on digital transformation and big data.

His experience also includes running a number of large scale, complex, multi-jurisdictional regulated market delivery programmes, as well as leading scale and transformation initiatives across the Telcom, Travel, Market Data, Manufacturing and IT sectors.

Confirmation of Smith’s permanent appointment comes as the global B2B sports betting supplier enters a fourth continent.

FSB’s core product strategy is now centred on the UK, Africa, Mainland Europe and Canada.

Smith said: “Taking full-time charge of FSB is a great thrill for me. What became clear during my three-month period as interim CEO was the opportunity that lies ahead for our organisation.

“The combination of our dynamic proprietary platform technology, alongside our driven, determined people and tier-one partnership portfolio gives us every reason to look forward with confidence.

“Having taken our first assured steps in North America last month, we are now well positioned to move forward boldly in 2023 with our core markets and products strategy,” he added.

Smith’s appointment as interim CEO followed a shift in strategy after a review that saw FSB de-prioritise operations in the US.

The supplier had previously obtained a Nevada licence in 2022 as part of a long-term strategic plan for the North American region.

Despite the switch in strategy, Smith said he was eager to work closely with private equity partner Clairvest to accelerate future growth at the company.

Mohit Kansal, MD at Clairvest, commented: “We are delighted that Adam has agreed to come onboard as full-time CEO effective immediately.

“Adam’s commitment and impact at FSB in a short few months with the support of the senior management team has been exemplary.”