Ex-JPMorgan Executive Becomes First CEO of Tradewind Blockchain Precious Metals Marketplace
Tradewind was established as a marketplace for the sale and trading of precious metals, all with the use of blockchain technology. In a new announcement, the company has finally hired their first CEO that the marketplace has ever had, directly from JPMorgan. The new CEO, Michael Albanese, is a senior executive with the banking institution.
Most recently, Albanese worked at the global head of collateral management with JPMorgan, though his resume contains two decades worth of experience with traditional financial institutions. By working with Tradewind, he will be improving the product offerings and client base.
Blake Darcy, the executive chairman of Tradewind, commented that the “significant experience” that Albanese has with the creation of “capital-efficient products,” working alongside other corporation, and offering value to the shareholders of a company. Darcy expressed that both the board and him self are confident in Albanese’s ability to push their company to the next level.
Tradewind was originally launched in March of last year, aiming to make gold trading a part of a blockchain, and they earned early backing of IEC. The former head of product with IEC, Matt Trudeau, co-founded Tradewind and even served as the president of the firm for a time. Now, Trudeau works at ErisX as the chief strategy officer.
Before Albanese joined the team, the company only had a director instead of a CEO – Mike Haughton. The director will still keep his position as Albanese starts work as the CEO.
In a press release, Albanese said that there’s “clear opportunities” for precious metals to be used in trading, whether it is in regard to how they are traded, settled, custodied, or moved. With the technology in the ecosystem, he expressed that he is “excited” to be involved with a company that handles “a major asset class.”