Company Announcements

Changes to Board and Committee Composition

Wise PLC ("Wise"), the global technology company building a better way to move and manage money around the world, today announces updates on the structure of its Board and change of Company Secretary.

Chair succession

As confirmed in the listing prospectus, Taavet Hinrikus will step down as Chair and Director, and David Wells, currently the Senior Independent Director, will become Independent Non-Executive Chair with immediate effect. 

David, formerly Chief Financial Officer of Netflix, has been a director of the Wise Board since July 2019. He has also served as a member of the Audit and Risk Committee, a role he will now step down from to ensure Wise complies with the associated requirements under the UK Corporate Governance Code.

Appointment of Terri Duhon as Independent Non-Executive Director

In addition, following an extensive search the Board is delighted to announce the appointment of Terri Duhon as an Independent Non-Executive Director, with effect from 1 January 2022. Terri holds non-executive board positions at Morgan Stanley and at Rathbones Group PLC and was previously on the board of CHAPS. A former derivatives trader, Terri is now an Associate Fellow, lecturing at Oxford University and will bring to Wise her deep understanding of the financial industry and risk management. Terri will also be appointed as a member of the Audit & Risk Committee.

The Board welcomes David and Terri in their new roles, and thanks Taavet for his extraordinary contribution to Wise over the last decade.

Appointment of Jane Fahey as Company Secretary 

Wise also announces the appointment of Jane Fahey as Company Secretary, with effect from 1 January 2022. Currently Deputy Company Secretary, Jane will replace Dean Nash, Company Secretary and General Counsel, in this position.  

Taavet Hinrikus, Co-Founder and current Chair, commented: 

​​Kristo and I founded Wise with a clear mission: to fix the international money problem by making it faster, cheaper and more transparent to move and manage money across borders. We have made huge progress on that mission, saving people billions along the way. I'm very proud of what we've achieved over the last decade and I'm excited for what lies ahead. While I'll always remain Wise's co-founder, I've completed my entrepreneurial circle at Wise. I'm now officially handing over the reins as Chairman to David, who has lots of experience working with disruptive companies such as Netflix. He'll be a great leader for the Board as Wise takes the next steps towards achieving its mission of money without borders."

David Wells, Senior Independent Director and Chairman-Elect, said:

"With its mission to build money without borders, Wise is fundamentally disrupting how we move and manage money in an internet-driven, interconnected world. I have had the pleasure over the last 3 years of working closely with Taavet, Kristo and other Board Members as Wise scaled globally, and marked a significant milestone earlier this year in becoming a publicly listed company. I look forward to continuing Taavet's legacy as Chair, and helping to bring new customer first ways to move and manage money to more people and businesses around the world."

Terri Duhon, Independent Non-Executive Director, said:

"The very nature of financial services has changed over the past decade and Wise has been at the forefront of that revolution. It fundamentally reinvented how money moves across borders and brought international banking to people around the world, levelling the playing field. Their transparency and commitment to financial inclusion is an objective I share. I'm delighted to join the Wise team and contribute to their mission."

Kristo Käärmann, Co-founder and Chief Executive Officer, remarked:

"When Taavet and I started out a decade ago, we wanted to make moving money faster, easier and cheaper for everyone, everywhere. We started with money transfers. Since then, we've made a lot of progress. Today, people and businesses around the world can use Wise to not just send money, but also spend and receive it using the real exchange rate. Wise is where it is now because of our shared vision, focus on the mission, and the close partnership we've had as entrepreneurs together. Wise has benefited greatly from Taavet's leadership and I'm excited to see what he does next. 

I'm also delighted to welcome David into his new role as Chairman, and Terri to the Board. David has a wealth of experience operating and scaling disruptive companies, and I look forward to working with him even more closely as we enter a new phase of growth at Wise. Likewise, Terri has a deep understanding of the financial industry and a track record in pioneering new products in global markets. Her experience will be an invaluable asset for the Board. 

About Wise

Wise is a global technology company, building the best way to move money around the world. With the Wise account people and businesses can hold over 50 currencies, move money between countries and spend money abroad. Large companies and banks use Wise technology too; an entirely new cross-border payments network that will one day power money without borders for everyone, everywhere. However you use the platform, Wise is on a mission to make your life easier and save you money.

Co-founded by Kristo Käärmann and Taavet Hinrikus, Wise launched in 2011 under its original name TransferWise. It is one of the world's fastest growing tech companies and is listed on the London Stock Exchange under the ticker, WISE.

Over 11 million people and businesses have used Wise since it was founded. Today we process over £6 billion in cross-border transactions every month, saving customers over £1 billion a year.