Economy

Apollo appoints former German regulator chief as senior advisor

Apollo appoints former German regulator chief as senior advisor

FRANKFURT (Reuters) – Global investor Apollo confirmed on Wednesday that it has appointed former head of German financial regulator Felix Houfeld as a senior advisor.

Hoffeld, a prominent figure in German finance who left the BaFin regulator after the collapse of payments company Wirecard, declined to go into further details.

The Bonn-based regulator, part of the Finance Ministry, has come under fire for failing to spot wrongdoing before Wirecard’s collapse in 2020 in Germany’s biggest fraud case.

Hoffield left the regulator last year after six years as president. “Now there are other tasks to be tackled,” he said at the time, and wished his successor all the best.

Apollo Global Management (NYSE: Inc) has banking and insurance assets in Germany supervised by BaFin. Hoffield continued a 12-month lull before taking on the role of Apollo in June.

BaFin, which declined to comment, is now under new leadership. Apollo also declined to comment.

The role of Apollo is one of many that Hoffield has played since then. In May, Hufeld joined financial firm Rantum Capital to focus on debt and equity investments in financial services, financial services and fintech.

Bloomberg first reported on Hoffield’s appointment.

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