That's interesting, but now to think of it, I don't recall the character's name in the first episode.
But the resemblance to Ultimate John Wraith is hard to deny:
http://upload.wikimedia.org/wikipedia/en/9/9c/Ultwraith.jpg
I could be wrong, but I think that the reason why he may resemble the Ultimate (and IMO, crappy) version of Wraith is because the creators of the show might have wanted to give a tribute/shout out to ULTIMATE X-MEN. I'm just glad he is not Ultimate John Wraith.
Hopefully this MIGHT mean that we will be seeing the cool 616 version of Wraith in this series. Which would make a lot of sense, since the 616 version of Wraith will be in the X-MEN ORIGINS:WOLVERINE movie.