Fintech Wise shares fall after CFO quits, CEO goes on leave

Kristo Kaarmann, CEO and co-founder of Wise.

Eoin Noonan | Sports file | Getty Images

UK fintech stocks Wise slipped Monday, after the company announced that its chief financial officer Matt Briers would leave the company next year, while its CEO Kristo Kaarman will go on paternity leave from September.

Wise shares were down around 4% at 9.45am London time.

Briers will step down as Wise’s chief financial officer in March 2024, once Kaarman returns from a sabbatical, the company said in a press release Monday.

As CFO, Briers grew Wise from a scrappy money transfer newbie to a publicly traded fintech giant. Wise went public in 2021 in what was then London’s first direct listing — an alternative to the IPO whereby companies offer shares directly to the public without resorting to financial intermediaries or creating new shares.

Briers is the second CFO of a major UK fintech company to announce his departure this month – in May. On January 11, British digital banking startup Revolut said its chief financial officer Mikko Salovaara was leaving after just two months on the job for “personal reasons”.


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