NSN seeks compliance expert after scandal

Nokia Siemens Networks (NSN) is searching for its first group compliance officer after a corruption scandal at Siemens delayed the launch of the joint venture company.

Ex-Nokia lawyer and NSN general counsel Kirsi Komi is leading the hunt and is currently interviewing prospective candidates for the post, which is based in Helsinki.

The compliance officer will be responsible for enforcing the company’s new corporate guidelines throughout the group.

The Nokia-led legal team has created the new role following a €420m (£286m) bribery scandal at Siemens, Nokia’s partner in the joint venture.
German authorities have arrested Siemens board member Johannes Feldmayer as part of a probe into alleged payments to a union official.

NSN CEO Simon Beresford-Wylie told the German press that the new company is in the process of training its managers on compliance.

The €16bn (£10.9bn) merger of the networks businesses of Nokia and Siemens to create NSN was completed last summer. NSN was due to go live in January, but the Siemens scandal has delayed the launch until the start of April.

Shearman & Sterling and Clifford Chance bagged the key roles on the mandate for Nokia and Siemens respectively.

Before taking the helm at NSN, Komi was vice-president of legal at Nokia and headed the legal team for the company’s networks business group.