- UK Finance responds to today's HM Treasury figures on COVID-19 support for businesses
- UK Finance appoints two new Managing Directors
- German FInance Minister wants to revamp BaFin oversight system over Wirecard issues
- 16 European banks set the stage for the future launch of the European Payments Initiative( EPI)
- Redwood Bank says there is COVID-19 cash confusion among business savers
- Standard Chartered Private Bank’s Sustainable Investing Review 2020 highlights the resilience of investor interest in sustainable investments amidst market disruptions due to COVID-19
- Juniper Research new study found that memberships of loyalty programmes with a digital element will increase from 37 billion in 2020 to 48 billion in 2023 globally expired
- Intuit Quickbooks highlights need for UK Government to provide continued support for FinTech sector expired
- Mastercard European research indicates a boost in purchasing from local outlets expired
- Paysafecash launches in Bulgaria to enable online cash purchases expired
- Moneyfacts says borrowers could turn to interest-only in 2020 expired
- Barclays Investment Bank announces three senior appointments to its Consumer Retail Group (CRG) expired
30th June 2020
Goldman Sachs, Morgan Stanley held 24% of Wirecard voting rights before the collapse says Buyshares
Data obtained by Buyshares.co.uk indicates that Goldman Sachs Group and Morgan Stanley accounted for the highest voting rights at 14.1% and 10.29% respectively. Cumulatively, the two stakeholders had 24.39% in voting rights.
Buyshares research focused on shareholders with at least voting rights of 3%. Franc-based Societe Generale S.A had the third-highest voting rights at 6.37% followed by Black Rock with 5.57%. Citigroup closes the top five categories with 5.02% in voting rights. Elsewhere, DWS Investment had the sixth-highest voting rights at 3.34%. Union Investment Privatfonds had the least voting rights at 3.18%.
For stakeholders with high voting rights, they play a key in forging the way forward for any company. According to Buyshares.co.uk research report:
“With voting rights, shareholders like Goldman Sachs Group had the opportunity to vote on matters of corporate policy within Wirecard. They played a key role in determining who makes up the board of directors, issuing securities, initiating corporate actions, and making substantial changes in the corporation's operations."
Buyshares.co.uk's research also reviewed other global payment companies by ranking their market capitalization as of 2019. Visa occupies the top spot with a market cap of $352.57bn while Mastercard is second with a $256.88bn in market capitalisation. Paypal has the third-highest market capitalization at $128.95bn followed by Worldpay at $37.83bn. Shopify wraps the top five groups at $30.64. Square’s market capitalization of $26.2bn places it sixth among global payment solution companies followed by First Data’s $23.99bn. Adyen is eighth with a market capitalization of $23.78bn followed by TSYS at $21.86bn.
Before the collapse, Wirecard had a market capitalisation of $19.3bn to place it in the tenth spot.
The Wirecard scenario will definitely play a role in the future oversight of FinTech companies globally.
Background at: https://buyshares.co.uk/goldman-sachs-morgan-stanley-held-24-of-wirecard-voting-rights-before-the-collapse/