ErisX Hires New Director Of Business Development
ErisX announced on March 5, 2019, that it has added a new member to its management team. The new role being filled is that of a Director of Business Development it is being taken up by Kyle Unterseher.
Unterseher has an impressive resume that includes stints at Wells Fargo, Jefferies & Company, and UBS Investment bank. At his new role, he will be reporting to Kelly Brown, ErisX’s Chief Commercial Officer.
As part of the announcement, he has stated that ErisX has an impressive history and that he is excited to join the team.
“Eris Exchange has operated a regulated marketplace for over seven years before entering the cryptocurrency space,” said Unterseher. “With their experience, leadership and diverse list of investors; ErisX is well-positioned to enhance the digital asset trading experience and I’m excited to be a part of growing this new exchange environment.”
Taking From The Mainstream
This is yet another example of a crypto firm hiring a person with expertise in the mainstream financial market to take on a role at their firm. This is a strategic move on their part as most crypto firms are actively trying to attract larger investors and tie adoption.
By bringing these people into their teams, they have access to the expertise of those who understand and have experience in these markets.
This is also the idea behind acquhires, which is a situation where a larger firm buys out a smaller firm, not for their products but to have access right expertise of their staff. A recent example of this is Facebook, who bought the blockchain startup firm Chain space in February 2019 and it was rumored that they simply wanted the staff and not the firm itself.
There is also a similar practice of former civil servants and cabinet members joining blockchain firms as well. This can be seen in Ryan Zimmerman, a former Trump Cabinet member, joining Artillery One after leaving the administration. When his move was first announced, his new firm made reference to his experience in government being a potential asset to them.
“Secretary Zinke brings a wealth of experience and understanding of the workings of business and government,” said Artillery One’s Chief Executive Officer Daniel P. Cannon. “His expertise in the energy and technology sectors will help Artillery One to continue to expand its consulting and finance business in the core areas of cybersecurity, energy, fintech, and digital assets. We look forward to introducing him to our strategic partners and clients around the globe.”