5/8/2020, 7:52 PM (Source: TeleTrader)
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Wirecard names chief compliance officer amid probe by regulator

Wirecard AG announced on Friday changes to its management board, including the appointment of a new chief compliance officer.

American Dr. James H. Freis was named to the post and will be responsible for the newly created Integrity, Legal and Compliance department. The company's Executive Board is also expanded by two additional members.

The move comes after the German financial market regulator BaFa intensified investigation of Wirecard, following a report from audit company KPMG regarding allegations that the German firm was involved in financial fraud. KPMG found no evidence that Wirecard was manipulating its financial data and therefore ended the investigation, but was not able to provide full details on Wirecard's financials.

Breaking the News / SR