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Wirecard Hires New Head of Compliance

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Wirecard Hires New Head of Compliance

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Wirecard, the embattled payment services firm has hired James Freis as Head of Compliance in Frankfurt. Freis joins from Deutsche Borse where he was aslo Chief Compliance Officer for 6 years.

Prior to Deutsche Borse, Freis spent time in Washington with law firm Cleary Gottlieb Steen & Hamilton, the US Treasury and Fed.

On Friday Wirecard reshuffled its management board, including the appointment of Freis, as the payments system provider faces multiple regulatory probes into financial disclosure.

BaFin has intensified its probe into Wirecard, to see whether it may have withheld information before a critical audit by KPMG.

Late last month KPMG found that the German payments company did not provide sufficient documentation to address all allegations of accounting irregularities made by the Financial Times.