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Wise CFO steps down to recover from injury

Wise finance
Matt Briers and Kristo Käärmann. Image credit: Wise

The finance chief of London-based fintech Wise is stepping down, coming just weeks after its CEO announced he will take a three-month paternity leave in September.

Wise CFO Matt Briers, who has worked with the international remittance company for eight years, will step down to support his recovery from injuries sustained in a bicycle crash last year.

In a statement, Briers said: “Wise will likely have many CFOs in its first century and this is simply me starting the process of handing over the reins to the next one.

“Some of you may know that a year ago I returned back to work at Wise after a quite horrible accident where I went under the wheels of a bus, and so, with this in mind, my focus will shift to making a full recovery.”

Briers will stay in the role of finance chief until March 2024 to “support an orderly transition” and Wise will “keep folks updated once we have news to share”.

The departure of Briers comes weeks after co-founder and CEO Kristo Käärmann announced he would be leaving the company temporarily for a three-month sabbatical.

Käärmann is also currently facing legal trouble with the UK’s financial regulators. The Financial Conduct Authority (FCA) commenced an investigation into the “regulatory obligations and standards” of the co-founder.

Käärmann was previously included in HM Revenue and Customs’ deliberate tax defaulters list in 2021 after failing to pay £720,495.

Wise, formerly TransferWise, went public in 2021 in a direct listing on the London Stock Exchange. Shares in Wise dropped around 4% on Monday morning.