Lex Sokolin Is The New Global Head of Fintech At ConsenSys, London Team To Expand
ConsenSys has a new Global Head of Fintech. Lex Sokolin, who has worked as a partner on Autonomous Research before, has decided to join the Ethereum-based accelerator, according to the crypto media outlet The Block.
After working there for three years, Lex Sokolin left his former company soon after it was acquired by AllianceBernstein. However, before departing, he was the main person in charge of Autonomous NEXT and to oversee the role of cryptocurrencies and similar assets for investors of the company.
Sokolin originally worked on Lehman Brothers, but the bank collapsed back in 2008, so he had to find some other place to work. He worked on both Barclays and the Deutsche Bank for a while but eventually found his place in Autonomous Research.
Now, at ConsenSys, the executive will work under Joe Lubin, the founder of the development studio. His specific job is to explore strategies that will help the company to help in the development of new companies in the fintech and decentralized finance industries.
Sokolin Will Be A Part of the London Team
According to the reports, the new executive will be a part of the brand new London team. The team is already small and it was only started recently but it is growing to have more than 50 members and Sokolin will obviously play an important role in making this office grow. The reports also affirm that the people at the office are mostly Etehreum solution architects and devs.
This move is clearly a part of the restructuring that ConsenSys is facing. Last year the company affirmed that it would completely change its business in order to start ConsenSys 2.0.
The decision was not very cherished at the time, mostly because it meant that many employees would have to be fired in order for it to start. The prices of crypto were going down at the time and the industry was far from living its greatest times ever.
After around 30% of the employees of the company were fired, restructuring began and it is now bearing fruit. Not only Sokolin was hired as a key member of this new office, but ConsenSys also hired Charles d’Haussy this year, who previously worked as the head of InvestHK, an investment company based in Hong Kong.
While there were rumors last year that the company would fire even more employees, the rumors were not confirmed.
ConsenSys seems to be working the ground for growth now that the crypto market is finally starting to grow again as well. The company was looking to raise a total of $200 million USD from investors back in April, which would make the company be valued in at least $1 billion USD.
Now, we have to wait and see what kind of work will be done by Sokolin and how fundamental he will be in order to be a part of this new office.