Burford Rises After New CFO Named to Address Governance Concerns

Burford Capital Ltd. shares jumped after the litigation-finance company named a new chief financial officer to replace Elizabeth O’Connell, who is married to Chief Executive Officer Christopher Bogart.

“It is clear that investors would prefer an alternative CFO,” the New York-based company said in a statement Aug. 15. It named adviser Jim Kilman to “buttress confidence” in its financial disclosures, while O’Connell will stay on as a chief strategy officer.

Burford shares gained as much as 13% to a session high after it announced changes including a new CFO, a search to add new directors to the board and plans ...