J ack Ma-owned London fintech WorldFirst has shifted its Asia business away from UK oversight in a major restructuring, the firm’s accounts published today show. WorldFirst Asia, a business unit which accounted for around two-thirds of the company’s revenues and 70% of its profits, has been transferred to an Asian subsidiary of billionaire Ma’s Ant Group. WorldFirst said it took the decision in January based on “the strategic alignment of the legal entities.” In July, Ant Group was fined around £800 million by the Chinese financial regulator after it was accused of violating rules on corporate governance, financial consumer protection,...