Copper hires five former Bank of America employees

Copper hires five former Bank of America employees

The Digital Asset Custodian Copper has hired five former employees of the Bank of America Merrill Lynch to manage the expansion of its first -class infrastructure offer.

The appointed are Michael Roberts, Adam Groom, Paul Barham, Ben Carr and Ross Budgen, the company announced on Monday. The new additions report to Copper Chief Revenue Officer Boris Bohrer-Bilowitzki.

Roberts spent 16 years at the Bank of America, most recently as managing director and head of the main platform of the bank for Europe, the Middle East and Africa (EMEA). He should now lead the new Prime Infrastructure Team.

"I have been watching Copper from a distance for several years and I am always impressed by the speed and quality of the solutions that bring them onto the market," said Roberts in a statement. "Boris and the team understand the technology that institutional investors want and need to pursue crypto strategies."

GROOM and Barham, which led the relationship management or product development for the main platform of the Bank of America Merrill Lynch in EMEA, follow Roberts in the Copper team.

Carr and Budgen add specialist knowledge in the areas of product development, account management and analysis.

The former Merrill Lynch members of the Bank of America will help build the first-class infrastructure offer from Copper with custody, security management and security services, said a company spokesman Blockworks in an email.

Copper was founded in 2018 and offers custody, commercial and processing solutions for institutional investors over 450 cryptoassets and around 45 stock exchanges.

The planned expansion takes place, since according to the company, further Prime Broker are joined to the Copper ecosystem and its Clearloop network. Clearloop was introduced in 2020 and eliminates the need for institutional investors to transfer digital assets to an exchange before they can act, and includes the management of collateral for cryptoderivates.

The latest appointments take place shortly after the company had appointed Chief Operating Officer and Carly Nuzbach Lowery Legal Officer last month.

Wilson was most recently a global co-manager of the futures, over-the-counter-clearing and foreign exchange and foreign prime brokerage business. She also worked in various functions at Goldman Sachs, JPmorgan and Deutsche Bank.

nuzbach Lowery came to Copper from Coinbase, where she was Associate General Counsel in London. Before that, she was Legal Counsel at Uber and Barclays.

The move is part of a greater migration of talents from the traditional financial sector to crypto.

"We saw some people who took this step, but for us it seems to be far from a trend at the moment," Lawrence Lieberman, Senior Managing Director of the HR -Gettervermittlungsprüchtung company The Orion Group, told Blockworks. "We have certainly had more crypto -related conversations than expected in the past few months.

. .

The Copper contribution stops five former Bank of America employees is not a financial advice.