Product innovation firm CPP, which was hit by a misselling scandal in 2012, is set to re-enter the UK market in the next few months after buying a significant minority stake in KYND, a start-up offering cyber security services to small businesses.

The firm has also appointed a new managing director Michael Whitfield. Mr Whitfield was previously acting executive chairman at specialist EU insurer Building Block.

CPP has invested £1.2m in its KYND holding, in a bid to strengthen its digital capabilities. The KYND chairman, Mike Harris founded banking services providers First Direct and Egg. KYND was founded by Andy Thomas, former head of consumer data and fraud protection company Garlik which Mr Thomas led through its acquisition by Experian.