Multinational investment bank has hired a self-described crypto trading expert and 12-year veteran of as its new head of digital asset markets, eFinancialCareers July 31.
The new appointment, Andrew Peel, spent his last three years at Credit Suisse as vice president of sales and trading innovation, in which role he acted as “trading subject matter expert for bitcoin and cryptocurrencies” according to his . His page also includes an independent position as “advocate of crypto markets” as of June 2013.
Nabbing a crypto enthusiast for its team aligns with Morgan Stanley’s evolving stance towards the nascent industry, which has been notably more moderate than that of other traditional financial sector behemoths.
In fall 2017, CEO Jamie Dimon scathingly (BTC) as a “fraud” that is “worse than tulip bulbs,” a sentiment closely with somewhat less vitriol by Credit Suisse CEO Tidjane Thiam’s claims that bitcoin is “the very definition of a bubble.”
In contrast, Morgan Stanley’s CEO James Gorman around the same time that while bitcoin is undeniably “highly speculative,” the privacy it offers is an “interesting” challenge to the central banking system, further considering the asset to be a “natural consequence” of innovation.
Morgan Stanley has also notably been for its clients as of mid- January 2018, just a month after their December 2017 debut on and .
A rising tide of figures who have decamped from the traditional financial sector to become crypto and blockchain industry front runners was recently in the first-ever crypto-focused version of Fortune’s “40 under 40” honor roll for the most influential young disruptors in global finance and technology.
Among these were ’ Rana Yared and Justin Schmidt for spearheading the Wall Street giant’s future , as well as Amber Baldet, who left her position as blockchain program lead at JPMorgan to co-found her own .
Published at Wed, 01 Aug 2018 18:26:00 +0000
