Former Hedge Fund Manager Switches to Crypto
As cryptocurrency continues to become more mainstream, it has begun to turn the heads of even the most significant of financial giants in the traditional real. While years ago cryptocurrency investment may have been left to merely the younger, tech savvier generation of investors, it is becoming near-necessity that all Wall Street pros have at least a basic, rudimentary understanding of how this massive market functions.
New investors are just less interested in the traditional model than they used to be. Some studies have found that Wall Street is losing interest as thousands of recent business graduates opt to take jobs in growing FinTech fields on the blockchain rather than chase old jobs at investment firms in the traditional sector in a place like New York.
Some older investors are even taking the leap themselves, leaving behind the old ways in favor of the new market and gains offered by crypto ventures. This is exactly what Benedicte N. Nolens, a former employee of Goldman Sachs and current financial services executive, has decided to do. A recent move by cryptocurrency exchange platform Circle has the esteemed executive joining the team in a bid to help the company navigate the tricky waters of global business for the blockchain.
Nolens has already made a name for herself in the financial securities market of Hong Kong. After having been an executive at massive U.S. firm Goldman Sachs, the University of Chicago educated professional became a respected regulator in the Securities and Futures Commission of Hong Kong, where she worked for several years.
Nolens also has a history of working in compliance. Before joining the regulators in Hong Kong, she worked as the chief compliance officer for a major bank in Switzerland, Credit Suisse. At Circle, her position will likely closely reflect her extensive experience in working with compliance on the global stage. She has been officially named the head of regulatory affairs. Additionally, she has been given the title of head of compliance for the areas of Europe and Asia, two continents to which Square seeks to expand operations.
Square Expansion Plans
In addition to showing off the increasing power behind the once small market of cryptocurrency trade, the transition of this regulator from Wall Street to the blockchain gives an inside look into the future plans of a major player in the exchange game. Circle has had its eye on going global for quite some time, but a few regulatory obstacles have likely been in the way of successful expansion.
Nolens’ addition to the team will help to alleviate some key issues preventing expansion. With her level of experience, there is no doubt that she has the understanding and the connections necessary to secure compliance within target countries for the massive exchange company. As cryptocurrency continues to become an increasingly global market for trade and finance, the participation of key regulatory players in the compliance process will always be a necessary strategy for safe growth.