Finance Minister
One-time tech star
German authorities have been criticized for failing to step in sooner despite reports of irregularities dating back at least five years. Scholz has called for giving the financial supervisory authority, BaFin, new powers.
The finance ministry said that it and BaFin president
Hufeld, who has led BaFin since 2015, said in a statement released by the ministry that the agency has “in many ways gained in relevance” in that time. “Now it has to tackle further tasks, and I wish my successor only the best in handling them,” he added.
The statement didn't specify when Hufeld will leave or when a successor will be appointed.
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