WorldFirst founder slams risk management claims

THE founder of Jack Ma-owned London fintech WorldFirst has hit back at reports of a board exodus at the company after a whistleblower told the Standard he had raised questions over risk governance policies by its Chinese management.

- Simon Hunt

Last year, as part of an internal overhaul dubbed the "Global Base Line" project, a string of management, risk, and oversight functions at the firm were shifted from the UK to China.

A host of senior UK leaders have since quit the firm, including its CEO, finance director, managing director, head of risk, chief information security officer, and group general counsel and compliance officer. Staff at the fintech's parent company, Ant Financial, are among those brought in to replace them.

Founder Jonathan Quin is understood to have questioned the project at meetings of the firm's risk committee.

But Quin told the Standard: "Some people's roles went from reporting to a local CEO to reporting to China.