Last year, Bafin subjected Flatexdegiro to a special audit and found deficiencies in the organization and management.
(Photo: Imago/Westend61)
Frankfurt Surprising departure from Flatexdegiro: Deputy CEO Muhamad Chahrour is leaving the online broker at the end of the year, as Flatexdegiro announced on Tuesday in Frankfurt. The 37-year-old informed the supervisory board that he wanted to leave the company early and at his own request. Both parties have now agreed on December 31st.
The supervisory board regrets Chahrour’s departure and thanks him for the “highly successful” time together, it said. The manager only took over the position of deputy chief executive officer and head of day-to-day operations (COO) on January 1.
Last year, the German financial regulator Bafin subjected the online broker to a special audit and found deficiencies in the organization and management. As a result, Flatexdegiro rebuilt and expanded the board. Before moving to his current position, Chahrour was the company’s Chief Financial Officer for six years.
More: Bafin examines Flatexdegiro’s capital market information and the CEO’s share purchases