JPMorgan Pulls Former Compliance Chief Out of Retirement to Clean Up Fintech Mess

JPMorgan Chase has called its former global chief compliance officer out of retirement to help the bank assert its rights as a major shareholder in Greek payments fintech Viva Wallet, after disagreements between the two firms culminated in dueling lawsuits.

Frank Pearn, who retired as JPMorgan’s top financial and legal risk manager a year ago, joined the Viva Wallet board this week as a nonexecutive director, according to regulatory filings. His  appointment marks an escalation in the level of oversight JPMorgan is applying to governance of Viva Wallet, which it paid $800 million to buy 48.5% of in late 2022.