May 16, 2021

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A banker who advised the family office of the head of Wirecard leaves UniCredit

2 min read


A senior investment banker who acted as financial advisor to former Wirecard boss Markus Braun has quit his job at UniCredit following revelations about the business relationship.

Jana Hecker has left UniCredit, the Italian bank told the Financial Times, confirming a memo sent Tuesday evening that Luca Falco, head of the global syndicate and capital markets, was tentatively assuming his role as head of equity capital markets. “with immediate effect”.

Hecker declined to comment. She had previously worked at Goldman Sachs and Deutsche Bank and joined UniCredit last March.

Last year, Hecker helped organize loans on behalf of Braun’s family office in the run-up to Wirecard’s collapse. The work was separate from his work at UniCredit.

The details of the arrangement were reported by the FT Friday. She never received an advance fee of € 790,000 due to Wirecard’s collapse weeks later, according to people briefed on the details.

Between February and May 2020, she advised the former CEO of Wirecard on the refinancing of 110 million euros in loans that Deutsche Bank wanted to terminate. In this capacity, she interacted with Wall Street banks and private equity firms on behalf of Braun, billing a total of 156 labor hours.

Hecker charged Braun a daily rate of € 5,000 and a payment linked to success, according to documents reviewed by the FT. His work resulted in two loans with the small German lender Oldenburgische Landesbank and an investment fund controlled by German entrepreneur Oliver Samwer, managing director of Rocket Internet.

In an email to Braun’s sister Marlies Braun on June 1 of last year after the successful refinancing, Hecker highlighted his contractual agreement with the family office which entitles him to around € 100,000 of fixed salary and a performance bonus of between € 510,000 and €. 870,000.

An email Marlies Braun sent to her brother two days later suggested payment to Hecker of around € 790,000 for the work done.

Braun had previously worked with Hecker while employed by Deutsche, where she helped set up her margin loan with the lender.



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