Apollo names former German regulator chief as senior adviser

FRANKFURT (Reuters) -Global investor Apollo has appointed the former president of Germany’s financial regulator, Felix Hufeld, as a senior adviser, he confirmed on Wednesday.

Hufeld, a prominent figure in German finance who left the BaFin regulator following the collapse of the payments company Wirecard, declined to elaborate further.

The Bonn-based regulator, which is part of the finance ministry, came under fire for failing to spot wrongdoing ahead of Wirecard’s implosion in 2020 in Germany’s biggest fraud case.

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

Apollo Global Management (NYSE:) Inc holds banking and insurance assets in Germany that BaFin oversees. Hufeld went on a 12-month cooling-off period before taking the Apollo role in June.

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

The Apollo role is one of several Hufeld has since taken on. In May, Hufeld joined the financial firm Rantum Capital to focus on debt and equity investments in services, financial services and fintechs.

Bloomberg first reported Hufeld’s hiring.

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