Libra has made yet another significant appointment in its top brass, with Stevan Bunnel set to take over as the association’s general counsel from Robert Werner. Bunnel brings experience from both the public and private sectors where he served in the U.S Department of Homeland Security and the O’Melveny & Myers legal practice, respectively.
The Facebook-led association has been making strategic appointments in the recent past as it gears for global expansion, scouting opportunities in e-commerce, and digital payments. Interestingly, the latest move to tap Bunnel comes barely three months since Libra appointed Werner. Speaking to Bloomberg, Werner said his exit from the association became apparent when it became inevitable for him to quit the Deutsche Bank Trust Co board of directors.
Like Stevan, Werner’s experience also includes government roles in the financial services niche; he has previously served as the senior counsel to the Under Secretary of the Treasury and a Financial Crimes Enforcement Network (FinCEN) director. He was also keen to point out Stevan’s capability in the new role at Libra “Steve is an outstanding lawyer and a great guy”.
Libra’s Strategic Appointments in 2020
With so much hype in the crypto sector, fundamentals are also shifting to tap the underlying opportunities in the digital ecosystem. Facebook’s debut of the Libra project back in 2019 is actually among the pinnacle factors to this increased activity. This innovation, whose goal is to provide a solution in the global payments spiked activity in both the private and public sectors, China’s CBDC is among the ripple effects.
Despite resistance from regulators, Libra seems to be forging ahead in market expansion and human capital. The association appointed former HSBC Chief Legal Officer, Stuart Levey, as its CEO back in May and has since been expanding its leadership with experienced professionals. Other notable appointments include Sterling Daines, a former Goldman Sachs exec who now leads the association’s global compliance team.