NetSol Technologies Inc. has named Jeffery Bilbrey as its president of North American operations, a new position at the company.

Bilbrey has served on the board of the Calabasas software firm that specializes in auto leasing and finance software since 2013. In his new position, he will oversee growth initiatives in the region for NFS Ascent, NetSol’s next generation technology.

Bilbrey, who has a background in information technology, will start at the position effective May 23. Prior to joining NetSol, Bilbrey was the vice president of client partner services for Majesco, an insurance technology software company in New York.

“With extensive background as a technology strategist and in-depth knowledge of our operations, we are confident that Jeff is the perfect fit to lead NetSol’s North American operations,” Najeeb Ghauri, NetSol chief executive, said in a statement. “His appointment demonstrates a significant market initiative in North America, an initiative that already can be supported through our bench of talented technology professionals.”

NetSol shares closed down 14 cents or 2.2 percent to $6.12 on the Nasdaq.