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/