DRW Crypto Trading Firm’s Cumberland Sees Executive Depart Company
Jason Leung, known as the global head of Cumberland, which is a crypto-focused unit of DRW, a major Chicago trading company, is set to leave the company. Chris Zuehlke will replace him as the new global head for the firm.
Before becoming the new global head, Zuehlke was the Chief Technical Officer (CTO) of the company and worked within DRW for around 15 years, being clearly very prepared for his new job.
An official spokesperson for the firm talked with Coindesk, which reported on this story. The spokesperson affirmed that the company was very grateful for Jason for working in order to help them to build the new capabilities to offer an institutional-grade experience for the investors.
The spokesperson also affirmed that the team would remain focused on delivering a great trading experience with the people left at the company.
Leung left the company soon after the former COO Bobby Cho did it at the beginning of May. Cho is also known as a key person for the company as he helped it to build their crypto trading desk over the course of three full years.
This departure was so important that the CEO and founder of DRW, Don Wilson, personally wrote a letter to address the counterparties of the company in order to affirm that this kind of change is expected in all markets and that this is normal and the situation is fully under control.
According to him, Jason Leung left the company because he wanted and, while he worked there, he was a very important part of the company. He helped in the forex exchange market and helped the company to achieve new levels of quality, the CEO affirmed.
This is the latest of a series of departures this year at Cumberland. Before Leung and Cho, James Radecki also left the company. He was a former Goldman Sachs banker who worked as the global head of business development at Cumberland for some time. He left the firm at the beginning of 2019.
While it is too early to tell how this will affect the company, it is pretty much certain that Cumberland took a hit losing so many of its key employees in a year. What does the future hold? Let’s all wait and see.