Genesis Global Trading Onboards Four New Execs For Expansion into Europe
An institutional over the counter (OTC) cryptocurrency trading platform called Genesis Global Trading is set to expand into Europe. The Block Crypto has recently reported that the company hired four new executives in order to be a part of this expansion.
The company, which is also engaged in lending, has decided to hire Arianna Pretto-Sakmann (general counsel), Leon Marshall (new head of European business), Dan Torrey (head of institutional sales) and Pat DeFrancesco (Chief Technology Officer) recently.
Michael Moro, the CEO of the company, was interviewed by The Block Crypto and he affirmed that some of these people were important in order to create the strategy to move to this new market.
Pretto-Sakmann, for instance, was hired back in May. Her job was to advise the company on the best decisions to move its business to Europe and determine how to deal with the EU General Data Protection Regulation as well as some other local laws.
Her expertise in working as an attorney before being hired was important to the CEO, as she used to advise several types of financial institutions such as banks, broker-dealers and clearing houses, for instance.
While the company always had some European clients, according to Moro, it was never really dedicated to working in the region specifically since the launch of the company back in 2013. Marshal will be the one that will oversee the expansion into the new territory personally.
In fact, there is so much activity back in Asia that the company is also considering moving on there, too. According to the CEO, the retail activity in the area is pretty big and there is a lot of trading happening in Asia, so while the current focus is Europe, it is not hard to see how they could focus there soon.
Another executive, Torrey, joined the company in order to work on the lending and trading platform. He was the global head of forex e-commerce sales on Northern Trust before he started to be in this new company.
DeFrancesco will support the technology and the quantitative research of the company during the expansion. However, Moro was not very clear on what exactly the company is building at the moment, but it seems fair to say that the company is trying to create a platform that will make trading easier.
The CEO also hinted that there was some sort of streamlining process happening in the lending platform so that the users would not need to call the company or email it in order to use it.
At the moment, Genesis has 25 employees and it is expected to keep hiring people until it has 35 employees. Last year, the company had only 15, so it is obvious that Genesis is growing a lot lately and that the trend is set to continue.