The chief executive of a provider of Mifid II reporting services to banks and asset managers has left just days after its Swedish owner set out plans to slash costs throughout its business divisions.

Jamie Khurshid, the chief executive of Simplitium, which is part of Cinnober Financial Technology, has left the company, according to three people familiar with the matter. The company confirmed his departure and said his role would be filled by Cinnober deputy CEO Per-Anders Häll Bedman on a temporary basis.